GCF to use $800 bil. to control global greenhouse gases
Songdo International Business District was selected to accommodate the secretariat of the U.N.-operated Green Climate Fund (GCF) during its board meeting Saturday.
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The fund is sometimes called the “World Bank” for global environmental protection with its size reaching $800 billion. Annual economic benefits from the GCF headquarters are estimated to about 380 billion won or about $344 million.
...“International sports such as the Asian Games are a one-time event. But the GCF is an organization to develop for the next 100 years, so the economic and other effects it will bring are incomparable,” Incheon Mayor Song Young-gil said.
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The government expects the hosting will create more added value and jobs with financial services involving hundreds of GCF staffers, and improve the [fossil-fueled] tourism industry along with GCF-related meetings and consequent accommodation, transportation and travel services.
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Starting next February, the temporary bureau of the GCF, which is in Bonn, will move to a 33-story building in Songdo that is being built specifically for use by international organizations. Using 15 floors of the building, the GCF will launch the official secretariat next year.
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