Speaking to reporters, French President Francois Hollande confirmed the money will be paid in “over the next three years”, saying that both France and the European Union must be “exemplary” in words and deeds in the run-up to next year’s climate summit in Paris.
The $1bn “should be the [momentum] which will enable this fund to attract the necessary financing to attract private financing [to the Green Climate Fund], and ensure that its investments are profitable not just for those who make them, but for the whole world”, Hollande said.
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