Bhutan will continue to enjoy the privileges and immunities of the Green Climate Fund (GCF) even after the graduation from the least developed country (LDC) category in 2023. Prime Minister Dr Lotay Tshering informed the House about this in response to the Member of Parliament (MP) from Bartsham_Shongphu during the National Assembly today.
Bhutan has been receiving the GCF along with other LDCs. GCF is the world’s largest dedicated fund helping developing countries reduce their greenhouse emissions and enhance their ability to respond to climate change. The Chairperson of the Environment and Climate Change Committee, Member from Draagteng-Langthil Constituency Gyem Dorji, introduced the Agreement to the House.
Almost all the members of the National Assembly supported the articles of the agreement between the government and the GCF. However, Bartsham_Shongphu MP questioned the continuation of the fund even after 2023.
“When Bhutan graduates from the LDC, will the country get the fund or not? When they graduate from LDC, many countries do not give the fund like they use to give previously,” asked Passang Dorji (PhD), the Bartsham_Shongphu MP.
Prime Minister Dr Lotay Tshering said the GCF will continue, unlike other supports because of its global implications.
“When it comes to the government to government support, institutional support and financial support, there are certain terms and conditions. And even some countries have resigned to support the country. And the GCF is different from these supports. The fund is for environment-related projects, water and air which is important globally,” said Lyonchhen.
The National Assembly discussed the agreements between the European Investment Bank and the government, and the GCF and the government. Both Agreements will be tabled for adoption tomorrow.
Tshering Zam
