$3.13 billion pledged to Global Environment Facility

London, 31 August: Governments from 32 countries have promised to give $3.13 billion to a fund which tackles environmental degradation in the developing world, the biggest collective donation it has received to date.

The Global Environment Facility (GEF) will spend the money on environmental projects run by governments, NGOs and community groups.

Monique Barbut, GEF chief executive and chairwoman, said: "This strong show of support from the international donor community is remarkable, and signals firm commitment to protecting the global environment."

The 15 year-old funding body receives an injection of cash every four years. Contributions are worked out using a complex formula, but 20 of the 32 donors have agreed to give an additional amount this year.

China and Korea, but not the US, are among the nations who have said they will give more, alongside a roll call mainly made up of European countries.

The GEF declined to break down how much each donor will contribute, but said that Europe provides "nearly half" of the funding. Although industrialised countries dominate the list of donors, Nigeria and Pakistan have also pledged undisclosed amounts.

Barbut said: "We cannot be complacent, and time is not on our side. The global environment is facing unprecedented threats, and these funds have to be translated rapidly into projects, programmes and policies that make a difference in developing countries."

To date, the GEF has given out $6.2 billion in grant funding, and generated a further $20 billion in co-funding, for more than 1,800 projects in 140 countries. "For every dollar that we invest, we leverage an additional $4. We would only finance a project if it had four more dollars," said Sarwat Hussain from the GEF.

The GEF has recently provided grants to a $19 million financing mechanism for renewable energy in Armenia, a $16 million project to tackle land degradation in Bhutan and an $89 million project to combat desertification in Cuba.