▲ This file photo shows Lim Soo-suk, spokesperson for the South Korean foreign ministry, at a regular press briefing in Seoul on Jan. 12, 2023. (Yonhap)

climate change-funding

S. Korea to contribute US$12 mln to GGGI to tackle climate change

SEOUL, April 18 (Yonhap) -- South Korea will increase its annual contribution to the Global Green Growth Institute (GGGI), a Seoul-based international green growth body, in a bid to help developing countries fight climate change, the foreign ministry said Tuesday.

Foreign Minister Park Jin plans to visit the GGGI headquarters Wednesday to sign a memorandum of understanding offering an annual contribution of US$12 million, up from the current $10 million, according to the ministry.

"The decision to increase our annual contribution from the current $10 million reflects the government's commitment as a global pivotal state to actively support the low-carbon and eco-friendly transition of developing countries," Lim Soo-suk, the ministry's spokesperson, said during a press briefing.

The GGGI was launched in October 2012 as an international entity to support developing countries' efforts to shift to environmentally-sustainable economic growth models.

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