The Finnish government is giving €100 million over the next three years to the Green Climate Fund.
The fund, which was established under the Paris Agreement, supports low-emission and climate-resilient projects in developing countries.
The Finnish money is in increase of 25% on the first pledge to the fund back in 2015, which was €80 million at that time.
“Finland shoulders its global responsibilities in the fight against climate change and, in particular, wants to support the most vulnerable and least developed countries in their climate action” says Ville Skinnari (SDP), Minister for Development Cooperation and Foreign Trade in a statement.
“The Green Climate Fund has an important role under the Paris Agreement. We can continue to mitigate climate change, but there is no time to waste” he adds.
Some of the current projects that the fund is working on include helping with climate-resistant agricultural practices in Ghana; food security risk management in Zimbabwe; addressing the climate vulnerability of water supplies in the Marshall Islands; promoting rainforest restoration in Honduras; and helping vulnerable communities in Kyrgyzstan diversify their climate-sensitive livelihoods.
A total of 27 countries have so far pledged $9.8 billion over the next several years to support the work of the Green Climate Fund.