(VOVworld) – The EU and 8 countries have committed to provide 23 million USD for the Climate Technology Centre & Network (CTCN) to support technology transfer to developing countries.
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23 million USD is committed for the Climate Technology Centre & Network
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The European Union, Germany, Italy, Japan, Korea, Switzerland, Canada, Denmark, and the United States made the commitment on the sidelines of the COP summit being held in Marrakech city, Morocco on Wednesday. The pledge is a major shot in the arm for efforts to provide request-oriented and tailored assistance for capacity building and technology in developing countries.
The CTCN is a UN institution and the implementation arm of the Technology Mechanism to help nations realise their commitments under the Paris Agreement. The CTCN functions as a facilitator in harnessing expertise from a network of over 230 technology institutions from multiple sectors around the world for usage in developing countries as per their requests.