At its 14th meeting, the Board of the Green Climate Fund (GCF) approved funding proposals totaling US$745 million.
The funds will support ten projects, with a total value of US$2.6 billion, in 27 countries.
The GCF Board also approved eight new Accredited Entities.
The funded proposals include projects and programmes focusing on: flood risk reduction in Pakistan; sustainable energy in the Caribbean; climate-resilient agriculture in Namibia; and sustainable landscapes in Madagascar.
16 October 2016: At its 14th meeting, the Board of the Green Climate Fund (GCF) approved funding proposals totaling US$745 million. The funds will support ten projects, which have a total value of US$2.6 billion, in 27 countries. The GCF Board also approved eight new Accredited Entities.
The funded proposals include projects and programmes focusing on: flood risk reduction in Pakistan; sustainable energy in the Caribbean; climate-resilient agriculture in Namibia; and sustainable landscapes in Madagascar. Several of the projects include a multilateral development bank (MDB) of the UN Development Programme (UNDP) as a participant.
According to GCF Board Co-Chair Zaheer Fakir, the approvals raised the Fund’s total commitments in low-emission and climate-resilient projects and programmes in developing countries to more than US$1 billion.
The new accredited entities are: the West African Development Bank; the Caribbean Development Bank (CDB); Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ); the Food and Agriculture Organization of the UN (FAO); the International Fund for Agricultural Development (IFAD); Nederlandse Financierings Maatschappij voor Ontwikkelingslanden; the South African National Biodiversity Institute (SANBI); and XacBank.
The GCF Board also selected Howard Bamsey (Australia) as the Executive Director of the GCF Secretariat.
The 14th meeting of the GCF Board took place in Songdo, Republic of Korea, from 12-14 October 2016. The meeting was webcast live, and an on-demand recording was made available on the GCF website. Prior to the meeting, constituency meetings and meetings of committees, panels and groups took place on 10 October, and informal consultations by the Co-Chairs with Board members, alternate members, and active observers were organized on 11 October, in Songdo.
The 15th GCF Board meeting will take place from 13-15 December 2016, in Apia, Samoa, co-hosted by Samoa and Australia. [GCF Press Release on 14th Board Meeting] [GCF Press Release on Executive Director] [14th GCF Board Meeting Agenda] [GCF Board Documents] [14th GCF Board Meeting On-demand Videos]