Climate Action

EU on track with fast start financing to developing countries

Bamboo shoot processing to provide for availability of bamboo during the counter season

The EU is delivering on its fast start finance commitment to support developing countries to strengthen their resilience to climate change and to mitigate their greenhouse gas emissions. The European Commission and the 27 EU Member States today presented their 2011 fast start finance report at the international climate negotiations in Durban.

This year, the EU mobilised €2.34 billion, despite the difficult economic situation and tight budgetary constraints. Together with the €2.34 billion provided in 2010, this brings the EU fast start contribution to date to €4.68 billion or 65% of the overall pledge for the period 2010-2012.