BAKU, Azerbaijan, April 1. The total cost of Turkmenistan's national projects implemented with the support of the Global Environment Facility (GEF) from 2018 through 2022 is more than $7.5 million, a source at GEF told Trend.
It was noted that during the reporting period, the fund implemented projects in accordance with the four-year investment cycle of GEF-7.
"The GEF applies a System for Transparent Allocation of Resources for each cycle in order to support the activities of countries related to the conservation of biodiversity, mitigation of climate change and combating land degradation. The GEF-8 investment cycle began in 2022, which will last until 2026," said the source.
The GEF added that within the framework of the GEF-8 investment cycle, the fund has allocated over $9.4 million to Turkmenistan.
"In general, the GEF operates in 183 countries around the world that have ratified at least one of the following conventions: the Convention on Biological Diversity, the UN Framework Convention on Climate Change, Stockholm Convention on Persistent Organic Pollutants, the UN Convention to Combat Desertification and Minamata Convention on Mercury," the GEF said.
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.