The UN’s Sustainable Development Goals (SDGs) are set to receive a £40 million boost from the Joint SDG Fund.
The funding will be spread across five different countries to get them back on track to achieving the SDGs and mitigate climate change.
Kenya, Madagascar, North Macedonia, Suriname and Zimbabwe have been selected from proposals of more than 100 countries to receive the funding.
Renewable energy projects, energy efficiency schemes and farming initiatives are some of the areas set to gain from investment.
This follows the Fund’s first investment of £30.2 million for projects in Fiji, Indonesia, Malawi and Uruguay.
Hiro Mizuno, UN Special Envoy for Sustainable Investments, said the fund offers “a sustainable investment model by leveraging the power of markets to accelerate businesses, empower communities and provide a clear path to self-sufficiency.”