That sinking feeling: Poor nations struggle with U.N. climate fund

FILE PHOTO: A stuffed toy is seen in mud following the flood brought by Typhoon Vamco, in Marikina, Metro Manila, Philippines, November 16, 2020. REUTERS/Lisa Marie David/File Photo

JOHANNESBURG (Reuters) - The Philippines has sought financing for seven projects from a U.N. environmental fund to tackle the catastrophic impact of climate change. Yet only one has secured backing since 2016, and it's not because the $17.3 billion fund lacks cash.

Bureaucracy and a blizzard of information requests have stalled applications to the U.N. Green Climate Fund (GCF) over projects to cope with climate change in a country that faces typhoons, droughts and rising sea levels, said Mark Joven, undersecretary at the Philippines finance department.