Global Environment Facility Low on Funds, Suspends Approval Process for New Projects

摘要

The Global Environment Facility has suspended consideration of projects for several months because of a shortage of funds.rn"There is a relative shortage of funds expected for the next couple of months, and a multitude of projects in the systems," Monique Barbut, chief executive and chairman of GEF, said in a letter to representatives of participating countries.rnThe suspension of new approvals took effect May 12 and is expected to last until sufficient funds become available, probably September or October, Barbut wrote.rnThe GEF, a multilateral financing institution that provides grants for environmental and sustainabilityrnprojects in developing countries, will fund $250 million worth of already-approved projects at the end of June.