Under an agreement signed by the Spanish government and the European Bank for Reconstruction and Development (EBRD) this week, Spain will contribute €25 million to the Green Carbon Fund (GCF). The fund is part of the multilateral carbon credit fund (MCCF), sponsored by the EBRD and the European Investment Bank (EIB). The MCCF, launched in December 2006, consists of the Project Carbon Fund (PCF) and the GCF. The PCF has commitments of €150 million from six countries and six companies, including a €35 million contribution from Spain.
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