The National Assembly approved the master agreement between "The Green Climate Fund and the Government of the Republic of Armenia"

20-01-2021

Today Deputy Minister of Environment Tigran Simonyan submitted the draft law on approving the master agreement between "The Green Climate Fund and the Government of the Republic of Armenia" to the parliament.
The Deputy Minister stated that the Green Climate Fund (hereinafter referred to as the Fund) was set up by 194 countries party to the UN Framework Convention on Climate Change in 2010   as part of the Convention's financial mechanism. The main mission of the Fund is to provide funding to developing countries vulnerable to climate change to limit or reduce greenhouse gas emissions, as well as to take action to adapt to the adverse effects of climate change. As a result, ensuring the transition to low-carbon and climate-resilient development. 
The commitment announced by developed countries to jointly mobilize $100 billion per year since  2020, in the framework of the implementation of the obligations  assumed under the UNCCC Paris Agreement, is focused on the implementation of climate change mitigation and adaptation actions in developing countries, including through the Fund.
The National Designated Authority of the Fund is the Ministry of Environment, and the Minister of Environment is the Focal Point.
The National Assembly (84 for, unanimously) passed the master agreement between "The Green Climate Fund and the Government of the Republic of Armenia".
The agreement between the Government and the "Green Climate" will give new opportunities.

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