An analysis of the climate finance reporting of the European Union
The EU favours middle-income countries with its climate aid program, according to analysis by a coalition of development agencies. In a report, the Act Alliance called on the EU to revise its climate finance strategy after finding EU institutions channeled 78% of their funding to middle income countries. Vulnerable least developed countries (LDC) received just 19%. Bangladesh is the only LDC among the top ten recipients of EU climate aid, receiving an annual average of €74 million ($91m) compared with Turkey’s €667m ($816m) annual package. Turkey and Ukraine, who both neighbour the EU, are the two biggest beneficiaries.
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