Q. Consider the following statements regarding “Global Environment Facility (GEF)”:
1. It was established to provide funding to protect the global environment.
2. It was established by World Bank in consultation with UNDP and UNEP.
Which of the statements given above is/are correct?
The GEF was established in 1991 by the World Bank in consultation with the United Nations Development Programme (UNDP) and the United Nations Environment Programme (UNEP), to provide funding to protect the global environment.