Consider the following statements about Global Environment Facility GEF 1 It was esta...........

Environment and Ecology Biodiversity

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Consider the following statements about Global Environment Facility (GEF):

1. It was established on the eve of Rio Earth Summit

2. It serves as a financial mechanism for Convention on Biological Diversity (CBD)

Which of the above statements is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

The Global Environment Facility (GEF) was established on the eve of the 1992 Rio Earth Summit to help tackle our planet’s most pressing environmental problems. Since then, the GEF has provided over $17 billion in grants and mobilized an additional $88 billion in financing for more than 4000 projects in 170 countries.