The Board of the Green Climate Fund approved total funding of US$392.86 million for 11 new projects and programmes assisting developing countries in their response to climate change.
The projects focus on an array of climate-related issues including renewable energy, agriculture, water, drought, and gender.
2 October 2017: The Board of the Green Climate Fund (GCF) approved total funding of US$392.86 million for 11 new projects and programmes to assist developing countries responding to climate change. The Board held its 18th meeting from 30 September to 2 October 2017, in Cairo, Egypt.
The approved projects included:
- the Renewable Energy Programme #1 – Solar in Mongolia with XacBank;
- the Kazakhstan Renewables Framework programme in Kazakhstan with the European Bank for Reconstruction and Development;
- the Low Emissions and Climate Resilient Agriculture Risk Sharing Facility programme in Guatemala and Mexico with the Inter-American Development Bank;
- the Building the Climate Resilience of Food Insecure Smallholder Farmers Through Integrated Management of Climate Risk project in Senegal with the UN World Food Programme (WFP);
- the Bhutan for Life project in Bhutan with the World Wildlife Fund (WWF);
- the Scaling-up Investment in Low-Carbon Public Buildings project in Bosnia and Herzegovina with the UN Development Programme (UNDP);
- the Sustainable and Climate Resilient Connectivity for Nauru project in Nauru with the Asian Development Bank (ADB);
- the Enhancing Climate Change Adaptation in the North Coast and Nile Delta Regions in Egypt project with UNDP;
- the Implementation Project for the Management Plan of the Lujan River Basin in Argentina with the Development Bank of Latin America (CAF);
- the Scaling up Climate Resilient Water Management Practices for Vulnerable Communities in La Mojana project in Colombia with UNDP; and
- the Responding to the Increasing Risk of Drought: Building Gender-responsive Resilience of the Most Vulnerable Communities project in Ethiopia with the Ethiopian Ministry of Finance and Economic Cooperation.
In addition, the Board approved a simplified approvals process for certain small-scale activities, a Request for Proposals for REDD+ results-based payments, and the accreditation of five new partner organizations as Accredited Entities.
The next meeting of the Board will take place in Songdo, the Republic of Korea, from 27 February to 1 March 2018.
Established in 2010 to support the developing countries’ responses to climate change, the GCF is part of the financial mechanisms of the UNFCCC, and is guided by its principles and decisions, including the Paris Agreement. The Fund’s portfolio now consists of 54 projects and programmes amounting to US$2.59 billion. [GCF Press Release] [Video Recording of the Meeting]