South Korea’s Finance Minister Choi Sang-mok announced at the G20 finance leaders’ meeting in Washington a venture capital fund of KRW23tr (USD16.6bn) to boost green investments. Aimed at leveraging private capital for climate finance, the fund focuses on clean energy and supports the Green Climate Fund with Korea’s USD300m contribution last year. Choi stressed incentives for private investments, sharing risks, and global cooperation on financial stability amid increasing geopolitical tensions. He advocated for multilateral bank reforms, swift debt restructuring, and management of financial market risks. Additionally, Choi discussed with Italy’s Finance Minister Giancarlo Giorgetti and received an invitation to May’s G-7 meeting in Stresa, Italy.
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