Sweden increases climate-related funding for 2019
The Swedish government has decided to increase funding for climate-related investments from the development budget for 2019. The funding will be allocated through two channels:
- US$54 million (SEK500 million) will be given to the Green Climate Fund (GCF), bringing the total Swedish contribution to the GCF for 2019 to US$114 million (SEK1060 million). The funds will be used for investments in renewable energy projects and energy efficiency initiatives, as well as climate adaption measures which will include flood protection and investments in meteorological weather and warning systems.
- US$37 million (SEK340 million) in bilateral funds will be given to Sida, the Swedish development agency, for environment and climate-related projects in Africa, Asia, Latin America, Eastern Europe, the Western Balkans and Turkey. The aim is to strengthen countries' capacity and ability to implement national commitments under the Paris Agreement on climate change.