Consider the following statements regarding the Green Climate Fund It was set up at the Conference o...........

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Consider the following statements regarding the Green Climate Fund

It was set up at the Conference of Parties-28 (COP) held in Dubai.
It accelerates transformative climate action in developing countries.

Which of the statements given above is/are correct?

1 only

2 only

Both

None

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Explanation:

Only statement 2nd is correct.
Recently, the Small Industries Development Bank of India (SIDBI) received approval of funding of $ 215.6 m from the Green Climate Fund for ‘financing mitigation and adaptation projects’ (FMAP).

It is the world’s largest dedicated climate fund which was set up at COP 16 held in Cancun in 2010.
It is an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC).
It accelerates transformative climate action in developing countries through a country-owned partnership approach and the use of flexible financing solutions and climate investment expertise.
The GCF is a legally independent institution with a fully independent secretariat headed by an Executive Secretary.
The Secretariat, located in Songdo South Korea, began its work in December 2013.

Hence option 2nd is correct.