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An international environmental-financing conference to be chaired by Finance Minister Trevor Manuel takes place in Cape Town at the end of the month, and will draw more than 70 cabinet ministers from around the world, Business Day reported today.

It will be the first Global Environment Facility (GEF) assembly in Africa. President Thabo Mbeki is to give the opening address.

Environmental affairs and tourism director of international governance and resource mobilisation Zaheer Fakir said the event would take place from August 27 to September 1.

According to the article, Fakir said SA had been collaborating closely with the environment ministers from Africa, Latin America, India, China and small island countries to lobby for changes in the structure of the GEF. This was to ensure that developing countries had equitable representation in the body’s governance and resource-allocation structures.

GEF fund allocation was presently skewed with 25 percent of the countries getting 75 percent of resources, Fakir reportedly said.

SA received $100m in grants from the fund in the past 12 years, and this year became a donor country, contributing R38m.

Read the full story, posted on businessday.co.za

Source: Business Day