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New global fund launches to restore biodiversity in developing countries

The Global Environment Facility set up the new multilateral fund with key initial investments from Canada and the U.K.

Penguins at Boulders Beach near Cape Town, South Africa
Penguins at Boulders Beach near Cape Town, South Africa (AN/Casey Allen/Unsplash)

Delegates from 185 countries to the Global Environmental Facility ratified and launched a new fund with more than US$150 million for improving how Earth's resources are managed in developing countries.

The Food and Agriculture Organization, which partners with the GEF to address the most critical issues at the nexus of agrifood systems and the environment, considers the new fund to be "an essential part of climate action," FAO's Deputy Director-General Maria Helena Semedo said on Friday.

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