The eight projects approved are:
1. Building Resilience of Wetlands in the Province of Datem del Marañón in Peru, with Profananpe
(GCF funding: USD 6.2 million)
2. Scaling Up the Use of Modernized Climate Information and Early Warning Systems in Malawi,
with UNDP (GCF funding: USD 12.3 million)
3. Increasing the Resilience of Ecosystems and Communities through the Restoration of the
Productive Bases of Salinized Lands, in Senegal, with CSE (GCF funding: USD 7.6 million)
4. Climate Resilient Infrastructure Mainstreaming in Bangladesh, with KfW (GCF funding: USD 40
million)
5. KawiSafi Ventures Fund in Eastern Africa, with Acumen (GCF funding: USD 25 million)
6. Energy Efficiency Green Bond in Latin America and the Caribbean, with IDB (GCF allocation: USD 217
million)
7. Supporting Vulnerable Communities to Manage Climate Change Induced Water Shortages, in
Maldives, with UNDP (GCF funding: 23.6 million)
8. Urban Water Supply and Wastewater Management in Fiji, with ADB (GCF funding: USD 31 million). Meeting ahead of the United Nations climate conference in Paris, the Green Climate Fund (GCF) Board, announced on Nov 6, 2015 that it approved $168 million of its funding for projects and programmes worth $624 million, marking the end of its launch phase and kick-starting the flow of climate finance to developing countries. In a press release, the Fund’s Board, which has been meeting in Zambia this week, said these new activities will generate up to $1.3 billion in investments over the coming five years. It noted that this initial batch of projects cover mitigation and adaptation measures; three of them are located in Africa, three are in Asia-Pacific, and two in Latin America.“Approving these first projects is an important milestone, particularly for GCF’s partnering entities and beneficiaries,” said Gabriel Quijandria Acosta, Co-Chair of the Board. “This first review of projects has been an enriching experience for the Board. It has allowed us to reflect on the areas that need to be further enhanced to speed up support to countries that are already experiencing the devastating impacts of climate change.”
With climate finance being a critical element of global climate talks taking place in Paris at the COP21 in less than four weeks, the GCF is highlighting that the approval of the first project proposals marks a “major trust-building measure between developing and developed countries.” Countries reportedly have called for GCF funding to be delivered at scale to finance their national climate targets (INDCs).“We have come a long way to build the Green Climate Fund capacity completely from scratch over the last two years,” said Héla Cheikhrouhou, Executive Director of the Fund.“I am delighted that we have reached all of the objectives set by the Board for this year, culminating in approving the first full funding applications,” she explained. “There are many more projects under development in GCF’s pipeline, and we are at last starting to deliver on our mission to advance the global response to climate change.” . The Green Climate Fund, which was set up by 194 governments party to the UN Framework Convention on Climate Change (UNFCCC), was given the mandate to help keep the planet’s atmospheric temperature rise below 2 degrees Celsius. The Fund received pledges of approximately USD 10 billion equivalent in 2014, of
which more than half have been signed into contribution agreements. It has now started to invest its resources to support developing countries' transition to climate-resilient and low-emission development, enabling the achievement of the United Nations Sustainable Development Goals (SDGs).
Full details of the approved projects can be found on the Fund’s new website, www.greenclimate.fund. The implementing entities responsible for partnering with the Green Climate Fund to implement the above projects and programmes are as follows (geographic scope in parentheses):
Peruvian Trust Fund for National Parks and Protected Areas, PROFONANPE (Peru)
United Nations Development Programme, UNDP (International)
Centre de Suivi Ecologique, CSE (Senegal)
Kreditanstalt für Wiederaufbau, KfW (International)
Acumen Fund, Inc., Acumen (Regional)
Inter-American Development Bank, IDB (International)
Asian Development Bank, ADB (International)
Sources:
http://www.un.org/apps/news/story.asp?NewsID=52485#.VkEy-X3eums
http://www.greenclimate.fund/documents/20182/38417/Green_Climate_Fund_approves_first_8_investments.pdf/679227c6-c037-4b50-9636-fec1cd7e8588
1. Building Resilience of Wetlands in the Province of Datem del Marañón in Peru, with Profananpe
(GCF funding: USD 6.2 million)
2. Scaling Up the Use of Modernized Climate Information and Early Warning Systems in Malawi,
with UNDP (GCF funding: USD 12.3 million)
3. Increasing the Resilience of Ecosystems and Communities through the Restoration of the
Productive Bases of Salinized Lands, in Senegal, with CSE (GCF funding: USD 7.6 million)
4. Climate Resilient Infrastructure Mainstreaming in Bangladesh, with KfW (GCF funding: USD 40
million)
5. KawiSafi Ventures Fund in Eastern Africa, with Acumen (GCF funding: USD 25 million)
6. Energy Efficiency Green Bond in Latin America and the Caribbean, with IDB (GCF allocation: USD 217
million)
7. Supporting Vulnerable Communities to Manage Climate Change Induced Water Shortages, in
Maldives, with UNDP (GCF funding: 23.6 million)
8. Urban Water Supply and Wastewater Management in Fiji, with ADB (GCF funding: USD 31 million). Meeting ahead of the United Nations climate conference in Paris, the Green Climate Fund (GCF) Board, announced on Nov 6, 2015 that it approved $168 million of its funding for projects and programmes worth $624 million, marking the end of its launch phase and kick-starting the flow of climate finance to developing countries. In a press release, the Fund’s Board, which has been meeting in Zambia this week, said these new activities will generate up to $1.3 billion in investments over the coming five years. It noted that this initial batch of projects cover mitigation and adaptation measures; three of them are located in Africa, three are in Asia-Pacific, and two in Latin America.“Approving these first projects is an important milestone, particularly for GCF’s partnering entities and beneficiaries,” said Gabriel Quijandria Acosta, Co-Chair of the Board. “This first review of projects has been an enriching experience for the Board. It has allowed us to reflect on the areas that need to be further enhanced to speed up support to countries that are already experiencing the devastating impacts of climate change.”
With climate finance being a critical element of global climate talks taking place in Paris at the COP21 in less than four weeks, the GCF is highlighting that the approval of the first project proposals marks a “major trust-building measure between developing and developed countries.” Countries reportedly have called for GCF funding to be delivered at scale to finance their national climate targets (INDCs).“We have come a long way to build the Green Climate Fund capacity completely from scratch over the last two years,” said Héla Cheikhrouhou, Executive Director of the Fund.“I am delighted that we have reached all of the objectives set by the Board for this year, culminating in approving the first full funding applications,” she explained. “There are many more projects under development in GCF’s pipeline, and we are at last starting to deliver on our mission to advance the global response to climate change.” . The Green Climate Fund, which was set up by 194 governments party to the UN Framework Convention on Climate Change (UNFCCC), was given the mandate to help keep the planet’s atmospheric temperature rise below 2 degrees Celsius. The Fund received pledges of approximately USD 10 billion equivalent in 2014, of
which more than half have been signed into contribution agreements. It has now started to invest its resources to support developing countries' transition to climate-resilient and low-emission development, enabling the achievement of the United Nations Sustainable Development Goals (SDGs).
Full details of the approved projects can be found on the Fund’s new website, www.greenclimate.fund. The implementing entities responsible for partnering with the Green Climate Fund to implement the above projects and programmes are as follows (geographic scope in parentheses):
Peruvian Trust Fund for National Parks and Protected Areas, PROFONANPE (Peru)
United Nations Development Programme, UNDP (International)
Centre de Suivi Ecologique, CSE (Senegal)
Kreditanstalt für Wiederaufbau, KfW (International)
Acumen Fund, Inc., Acumen (Regional)
Inter-American Development Bank, IDB (International)
Asian Development Bank, ADB (International)
Sources:
http://www.un.org/apps/news/story.asp?NewsID=52485#.VkEy-X3eums
http://www.greenclimate.fund/documents/20182/38417/Green_Climate_Fund_approves_first_8_investments.pdf/679227c6-c037-4b50-9636-fec1cd7e8588
