Loss and Damage Fund soon to provide assistance to developing countries

In 2025, the Loss and Damage Fund will provide financial assistance to developing countries, Report informs.

Three documents were signed at the 29th session of the UN Framework Convention on Climate Change Conference (COP29) in this regard.

The first document was signed with the Philippines, where the Fund's headquarters is located, the second with the World Bank, and the third with donor countries.

The institutionalization of the Fund has been completed to provide financial support to developing countries starting from 2025. Sweden has contributed $19.2 million to the Fund.