Norway is planning to invest NOK 10 billion ($1.14 billion) in renewable energy investments in developing countries over the next five years, according to Reuters.
The climate fund, administered by Norfund, will back projects to reduce dependence on fossil-fuels such as coal, as well as help developing countries to cut greenhouse gas emissions.
Eventually, the fund could mobilize some NOK 100 billion ($11.4 billion) in investments through private partnerships.
