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Greening the Future: Mobilizing Environmental Finance for Sustainable Development in Developing Countries

Samuel Yeboah and Kwadwo Boateng Prempeh

MPRA Paper from University Library of Munich, Germany

Abstract: This systematic review explores the role of environmental finance in advancing sustainable development in developing countries through the implementation of green growth strategies. Environmental finance involves the allocation of financial resources to support projects aimed at mitigating environmental challenges and promoting a transition towards a greener economy. The review examines various sources of environmental finance, including public, private, and international funding mechanisms, and assesses their effectiveness in funding initiatives that address climate change, conservation, and sustainable economic growth. The study also highlights challenges and opportunities associated with mobilizing environmental finance in developing nations, emphasizing the need for innovative financing mechanisms, capacity building, and international collaboration. By analysing empirical evidence and case studies, this review contributes to a comprehensive understanding of how environmental finance can play a pivotal role in shaping the sustainable development trajectory of developing countries.

Keywords: Environmental finance; green growth strategies; sustainable development; developing countries; funding mechanisms; climate finance; renewable energy; sustainable agriculture; international cooperation; financial innovation (search for similar items in EconPapers)
JEL-codes: O16 O44 Q56 (search for similar items in EconPapers)
Date: 2023-06-12, Revised 2023-08-11
New Economics Papers: this item is included in nep-agr, nep-ene, nep-env, nep-pke and nep-ppm
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