India and US to raise $100 billion per year to fight climate change in developing countries

India and US to raise $100 billion per year to fight climate change in developing countries

• Finance Minister Nirmala Sitharaman and her American counterpart, Treasury Secretary Janet Yellen, participated in 8th U.S.-India Economic and Financial Partnership on October 14, 2021.
• During the meeting, the two countries reaffirmed their commitment to raise $100 billion annually for developing countries from public and private sector sources, to tackle climate change.
• The India-US Economic and Financial Partnership was launched in 2010 as a framework to strengthen the economic bonds and build greater cooperation and economic growth in the future, between the two countries.
• The 8th U.S.-India Economic and Financial Partnership was organised on the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Washington.