Climate finance plays a critical role in addressing climate change, ultimately contributing to limiting the global
temperature rise below 2 degree Celsius as agreed in the Paris Agreement in 2015. The United Nations Framework
Convention on Climate Change (UNFCCC) recognizes that the developed countries need to provide new and additional financial resources to the developing counties to support the latter’s adaptation and mitigation actions1. It also says the special needs and situation of Least Developed Countries (LDCs) will be considered while providing these financial
resources.