Green Climate Fund Announces $745 Million In Approved Funding Proposals

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The Green Climate Fund has approved $745 million in funding approvals for 10 projects and programs at its fourteenth meeting, which together will have a total value of $2.6 billion and help 27 countries.

Green Climate Fund.Announced earlier this month, the Green Climate Fund — a fund created under the framework of the United Nations Framework Convention on Climate Change — approved 10 separate projects and programs, listed below.

“The approval of this amount is an impressive accomplishment for the Fund,” said Mr. Zaheer Fakir, GCF Board’s developing country Co-Chair. “With these funding approvals, we have committed over USD 1 billion in GCF resources this year to support low-emission and climate-resilient development in developing countries.”

“By working together as one Board, we achieved a great deal at this meeting,” said Mr. Ewen McDonald, the GCF Board’s developed country Co-Chair. “We are now well on our way to achieve the aspirational goal of approving USD 2.5 billion in GCF funding this year.”

The projects approved included:

  • $37 million for Scaling-up of Glacial Lake Outburst Flood risk reduction in Northern Pakistan with UNDP
  • $41.2 million for Priming Financial and Land-Use Planning Instruments to Reduce Emissions from Deforestation with UNDP
  • $80 million for Sustainable Energy Facility for the Eastern Caribbean with IDB
  • $16.7 million for Senegal Integrated Urban Flood Management Project with AFD
  • $39.3 million for Development of Argan Orchards in Degraded Environment with ADA Morocco
  • $9.5 million for Climate Resilient Agriculture in Three of the Vulnerable Extreme Northern Crop Growing Regions of Namibia with EIF
  • $10 million for Empower to Adapt: Creating Climate Change Resilient Livelihoods through Community-Based Natural Resource Management in Namibia with EIF
  • $378 million for Sustainable Energy Financing Facilities with EBRD
  • $53.5 million for Sustainable Landscapes in Eastern Madagascar with CI/EIB
  • $80 million for Universal Green Energy Access Programme with Deutsche Bank AG

In addition to the projects and programs approved, the Fund also expanded its partners by accrediting eight new organizations, bringing its total of Accredited Entities up to 41. The new organizations included:

  • Banque Ouest Africaine de Développement (West African Development Bank, BOAD), based in Togo
  • Caribbean Development Bank (CDB), based in Barbados
  • Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ), based in Germany
  • Food and Agriculture Organization of the United Nations (FAO), based in Italy
  • International Fund for Agricultural Development (IFAD), based in Italy
  • Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), based in the Netherlands
  • South African National Biodiversity Institute (SANBI), based in South Africa
  • XacBank LLC (XacBank), based in Mongolia

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Joshua S Hill

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