How can a decentralized and bottom-up financial architecture ensure adequate and predictable flows to support developing countries?
It is important for any financial governance structure to be transparent, allow for effective monitoring and respect agreed upon standards for aid effectiveness. In a decentralized and bottom-up architecture, the element of monitoring and transparency becomes even more important to ensure adequacy and predictability of financial support to developing countries. Therefore, the EC proposes a new High-level Forum on International Climate Finance, which should monitor and regularly review gaps and imbalances in financing mitigation and adaptation actions.
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