Consider the following statements about Global Environment Facility 1 It was established through Uni...........

Environment and Ecology Environment- Institutional Structure

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Consider the following statements about Global Environment Facility.

1. It was established through United Nations Conference on the Human Environment.

2. It is a financial mechanism for developing countries to comply with environmental conventions and agreements.

3. World Bank serves as the trustee of this fund.

How many of the statements given above are correct?

Only One

Only Two

All Three

None

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Explanation:

The Global Environment Facility (GEF) was not established through the United Nations Conference on the Human Environment. It was established in 1991 as a result of the Rio Earth Summit in 1992.

The second statement is correct. The GEF serves as a financial mechanism for developing countries to help them comply with environmental conventions and agreements.

The third statement is incorrect. The World Bank is not the trustee of the GEF. The GEF is an independent financial organization, and its trustee is the World Bank, but it also works with other implementing agencies.

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