CURRENT AFFAIRS

Detailed explanation-1: -The 2030 Water Resources Group (WRG), a partnership between MDBs, bilateral donors, private companies and NGOs, is helping Maharashtra secure $270 million financing from the GCF as part of a $1 billion project on climate-resilient agriculture, especially in the drought-prone Marathwada and Vidarbha regions.

Detailed explanation-2: -GCF can structure its financial support through a flexible combination of grant, concessional debt, guarantees or equity instruments to leverage blended finance and crowd-in private investment for climate action in developing countries.

Detailed explanation-3: -The Green Climate Fund (GCF) is the world’s largest dedicated fund helping developing countries respond to climate change.

Detailed explanation-4: -19. The Fund is governed by the GCF Board and it is accountable to and functions under the guidance of the COP to support projects, programmes, policies and other activities in developing country Parties using thematic funding windows.