Consider the following Statements about Green Climate Fund 1 NABARD has been accredited as the firs...........

Environment and Ecology Environment- Institutional Structure

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Consider the following Statements about Green Climate Fund.

1.NABARD has been accredited as the first ‘national implementing entity’ of the Green Climate Fund (GCF) in India.

2.It is a financial mechanism to channel funding from developed countries to developing countries.

Which of the given statements is/are true?

1 only

2 only

Both 1 and 2

None of the above

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Explanation:

Both 1 and 2

NABARD (National Bank for Agriculture and Rural Development) has been accredited as the first 'national implementing entity' of the Green Climate Fund (GCF) in India. This means NABARD can access and manage climate finance from the Green Climate Fund to support climate-related projects in the country.

The Green Climate Fund (GCF) is indeed a financial mechanism designed to channel funding from developed countries to developing countries to assist in climate change mitigation and adaptation projects.

Therefore, both statements 1 and 2 are correct.