11 December 2014: The Green Climate Fund (GCF) Secretariat organized an event on the sidelines of the Lima Climate Change Conference to raise awareness on priorities for the GCF Board and Secretariat in 2015, as well as support for country actions. The event, titled ‘GCF Outlook – Prospects for the GCF in 2015,’ was also an opportunity to address concerns among parties about potential inaccessibility of funds, especially for middle-income small island developing States (SIDS).

Hela Cheikhrouhou, Executive Director, GCF, recapped the first year of the Fund, highlighting design finalization and US$10 billion in capitalization through “record-breaking fundraising efforts,” and stressing that the next step is to turn pledges into contributions. She said the GCF plans to accelerate dialogue with developing countries on nominating their focal points and national designated authorities (NDAs).

Henrik Harboe, Co-Chair, GCF Board, stressed the need to both mobilize capital and assist in finding green projects for private sector financiers. He spoke on the Fund’s Private Sector Facility, noting that its design is yet to be finalized and drawing attention to a private sector advisory group (PSAG) tasked with designing the Facility to meet parties’ needs. He expressed hope that the first financing decisions will be taken at the GCF Board meeting in October 2015.

Belete Tafere, Minister for Environment and Forests, Ethiopia, called for the GCF to move quickly to the disbursement phase, noting his country’s need for investments in green transport infrastructure and green power, among others.

Explaining his country’s plan to create a national fund for mitigation and adaptation, with 90% capitalization from external sources, Abdoulaye Baldé, Minister of Environment and Sustainable Development, Senegal, noted GCF support will be required for ambitious national projects in agriculture, rail infrastructure and food security.

Tony de Brun, Minister of Foreign Affairs and Trade, the Marshall Islands, called for the GCF to have “less process and more access,” noting that SIDS have been disadvantaged in the past when accessing funds due to low capacities and inflexible rules.

In response to questions from the audience, Cheikhrouhou explained the PSAG is an ad hoc body, made up of 10 participants, half from developing countries, and including two civil society representatives. She invited interested national implementing entities as well as candidate implementing organizations to put forward their REDD+ proposals and institutional development support needs, noting there is scope to provide additional resources for readiness. [IISD RS ENBOTS Coverage] [IISD RS Coverage of the Lima Climate Change Conference] [GCF Event Announcement] [GCF Website]