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Option 3 : 3

The error lies due to wrong preposition being used here.

‘by’ must be replaced with ‘to’. The preposition ‘to’ is used to indicate the direction in which something is moving. Since the ‘climate finance’ has to move from developed nations to developing nations, hence ‘to’ must be used here.

Correct sentence- ‘The Rulebook has also established a system to ensure developed nations deliver climate finance to developing countries.

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