BAKU, Azerbaijan, March 28. The Global Environment Facility (GEF) has funded dozens of major projects in Turkmenistan, a source at GEF told Trend.
"The GEF has funded dozens of major national, regional and global projects in Turkmenistan within biodiversity, climate change mitigation, land degradation, chemicals and wastes, and international waters focal areas aligned with the international conventions and impact programs," the GEF said.
It was noted that the fund operates in accordance with 4-year investment cycles.
"The current GEF-8 investment cycle started on July 2022 and will go to June 2026. In general, cooperation between the GEF and Turkmenistan began in 1997 and continues to develop at the moment. So for example, the GEF Operational Focal Point at the Ministry of Agriculture and Environmental Protection of Turkmenistan is working on programming the GEF-8 programming by organizing national consultations and selecting an Implementing Agency," the foundation stressed.
The GEF added that the fund's partnership includes 18 Implementing Agencies (IA), including 5 UN organizations, seven multilateral development banks, three national entities, and three civil society organizations.
The Global Environment Facility (GEF) is an independent financial mechanism for providing grants to developing countries and other relevant criteria for assistance to countries for the implementation of projects that have a beneficial impact on the state of the global environment.