As COP26 approaches, governments are facing calls to increase the ambition of their climate commitments under the Paris Agreement. However, the fragmented climate finance landscape needs to develop a cohesive strategy to deploy aid most effectively for the countries that benefit from the funding.
Two major bilateral climate funds exist that support developing countries with climate aid: the Climate Investment Funds and Green Climate Fund.
However, their differing structures and overlapping focus areas create redundancies and competition. This policy brief argues that funding coordination challenges must be considered in a political context in order to foster greater synergy and effectiveness among the funds and provide maximum effectiveness for the countries that rely on them.
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