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Building effective international environmental regimes: The case of the Global Environmental Facility

Author
Sharma S.
Journal/Series
The Journal of Environment & Development | Vol. 5(1); 73 - 86; 14 p.
Date
1996
Source
IUCN (ID: ANA-057736)
Publisher | Place of publication
University of California | San Diego, CA, USA
Language
English
Field of application
International
Subject
Environment gen., Air & atmosphere, Wild species & ecosystems
Keyword
Policy/planning Development agencies and aid Institution building
Abstract

In 1990, the World Bank and the United Nations created an international financing mechanism known as the Global Environment Facility (GEF). Funded by a small number of countries from the industrialised North, the GEF is designed to provide concessional financial assistance to lower and middle income developing countries for the incremental cost of projects with global environmental benefits. Following the 1992 Rio Conference, the GEF was appointed as the financing mechanism for both the Convention on Biological Diversity and the Climate Change Convention. Despite its short existence, the GEF has attracted a great deal of criticism.