Download GCF Board approves USD 745 million in funding proposals

PRESS RELEASE
GCFBoardapprovesUSD745millioninfundingproposals
(Songdo,RepublicofKorea,14October2016)–TheGreenClimateFund(GCF)hasreachedanew
milestonetodaywiththeapprovalofUSD745millioninfundingproposalsatitsfourteenthmeeting.The
10projectsandprogrammeshaveatotalvalueofUSD2.6billion,andwillhelp27countriesacrossthe
globetoreducetheiremissionsandadapttotheimpactsofclimatechange.
“TheapprovalofthisamountisanimpressiveaccomplishmentfortheFund,”saidMr.ZaheerFakir,GCF
Board’sdevelopingcountryCo-Chair.“Withthesefundingapprovals,wehavecommittedoverUSD1
billioninGCFresourcesthisyeartosupportlow-emissionandclimate-resilientdevelopmentin
developingcountries.”
“ByworkingtogetherasoneBoard,weachievedagreatdealatthismeeting,”saidMr.EwenMcDonald,
theGCFBoard’sdevelopedcountryCo-Chair.“Wearenowwellonourwaytoachievetheaspirational
goalofapprovingUSD2.5billioninGCFfundingthisyear.”
ThefollowingprojectsandprogrammeswereapprovedatB.14:
§ USD37millionforScaling-upofGlacialLakeOutburstFloodriskreductioninNorthernPakistanwith
UNDP;
§ USD41.2millionforPrimingFinancialandLand-UsePlanningInstrumentstoReduceEmissionsfrom
DeforestationwithUNDP;
§ USD80millionforSustainableEnergyFacilityfortheEasternCaribbeanwithIDB;
§ USD16.7millionforSenegalIntegratedUrbanFloodManagementProjectwithAFD;
§ USD39.3millionforDevelopmentofArganOrchardsinDegradedEnvironmentwithADAMorocco;
§ USD9.5millionforClimateResilientAgricultureinThreeoftheVulnerableExtremeNorthernCrop
GrowingRegionsofNamibiawithEIF;
§ USD10millionforEmpowertoAdapt:CreatingClimateChangeResilientLivelihoodsthrough
Community-BasedNaturalResourceManagementinNamibiawithEIF;
§ USD378millionforSustainableEnergyFinancingFacilitieswithEBRD;
§ USD53.5millionforSustainableLandscapesinEasternMadagascarwithCI/EIB;
§ USD80millionforUniversalGreenEnergyAccessProgrammewithDeutscheBankAG.
GREEN CLIMATE FUND
Communications & Outreach
Songdo International Business District
175 Art Center-daero
Yeonsu-gu, Incheon 22004
Republic of Korea
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TheBoardexpandedtheFund’sgroupofpartnerinstitutionsbyaccreditingthefollowingeight
organizations,bringingthetotalofAccreditedEntitiesto41:
§ BanqueOuestAfricainedeDéveloppement(WestAfricanDevelopmentBank,BOAD),basedinTogo;
§ CaribbeanDevelopmentBank(CDB),basedinBarbados;
§ DeutscheGesellschaftfürInternationaleZusammenarbeitGmbH(GIZ),basedinGermany;
§ FoodandAgricultureOrganizationoftheUnitedNations(FAO),basedinItaly;
§ InternationalFundforAgriculturalDevelopment(IFAD),basedinItaly;
§ NederlandseFinancierings-MaatschappijvoorOntwikkelingslandenN.V.(FMO),basedinthe
Netherlands;
§ SouthAfricanNationalBiodiversityInstitute(SANBI),basedinSouthAfrica;
§ XacBankLLC(XacBank),basedinMongolia.
Duringthemeeting,theBoardselectedanewExecutiveDirectoroftheGCFSecretariat,Mr.Howard
Bamsey,toleadtheFundthroughitsnextdevelopmentphase,includingimplementingitsgrowing
portfolio,andscalingupstaffattheSecretariat.
ThenextmeetingoftheBoardwillbejointlyhostedbytheIndependentStateofSamoaandthe
CommonwealthofAustralia,andtakeplacefrom13to15December2016,inApia,Samoa.
GREEN CLIMATE FUND
Communications & Outreach
Songdo International Business District
175 Art Center-daero
Yeonsu-gu, Incheon 22004
Republic of Korea
T + 82 32 458 6062 (UTC+9)
F + 82 32 458 6091
[email protected]
greenclimate.fund
Not an official document
For use of the media only
Page2of2