Parliament has agreed a credit of just under CHF148 million ($158 million) for international cooperation on environment issues.This content was published on June 4, 2015 - 12:12
Following approval by the House of Representatives, the Senate on Thursday came out in favour of continuing financial support mainly for the Global Environment Facility (GEF) over the next four years.
Environment Minister Doris Leuthard praised the fund for its successful investments to set up protected areas around the world, promote biodiversity and eliminate the use of ozone depleting substances.
She said the renewed payment – the sixth since the creation of the GEF in 1991 – was in line with Switzerland’s environmental policy goals at an international level.
Leuthard said the GEF funds had triggered five-fold private investments.
However, critics argued many GEF projects were inefficient and Switzerland should cut back its contribution. They said other countries were reducing their share.
The GEF is a platform for international cooperation between more than 180 countries, international institutions, civil society and the private sector.
It is considered a major multilateral instrument to finance environmental projects in developing countries and emerging economies.
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