Luxembourg has launched a Forestry and Climate Change Fund (FCCF) as part of a partnership between the public and private sector.
The ministries of finance and sustainable development and infrastructure, together with BCEE, BIL and Foyer, launched the fund, which will provide financing for companies, communities and small farmers to manage secondary and degraded forests in the tropics.
In a statement issued by the government, Finance Minister, Pierre Gramegna, and Environment Minister, Carole Dieschbourg, highlighted the importance of innovative financing solutions to leverage private capital on the fight against climate change.
"Attracting private capital remains one of the key challenges in the fight against climate change," Gramegna said.
He added that the finance ministry aims to create confidence in the market that green investments "can generate a return while having a positive impact".
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http://www.scoop.it/t/luxembourg-europe/?&tag=Economy