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Prime Minister Narendra Modi on Friday hailed the ‘historic’ decision of the UAE presidency to operationalise the $475 million ‘Loss and Damage’ fund, just moments after the opening of the two-week COP28 climate conference on Thursday. It will compensate countries — especially developing ones — for the impacts of floods, droughts and heat waves.
Speaking at a session on Transforming Climate Finance during COP28 World Climate Action Summit, PM Modi asserted that India has given the utmost priority to achieve sustainable development and climate change. He also congratulated the UAE President for announcing the Climate Investment Fund.
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