Nine new projects set for implementation after approval at record-breaking GCF Board meeting

Nine new projects backed by the Green Climate Fund (GCF) are ready for implementation. Project agreements were signed for each project on the margins of GCF’s 42nd Board meeting (B.42), where the projects were approved. In addition, three projects received their first disbursement shortly after the agreement signings.

B.42, which took place in Papua New Guinea, saw a record volume of GCF investment approved in a Board meeting - USD 1.225 billion for 17 projects. GCF now has a portfolio of 314 projects amounting to USD 18 billion in GCF resources, USD 67 billion including co-financing.

Once a project is approved, the Funded Activity Agreement (FAA) must be signed by GCF and the Accredited Entity (AE) partner before it begins implementation. As part of its reforms to increase efficiency and effectiveness, the Fund has been expediting the FAA process, among other processes, to deliver climate finance more quickly to communities.

Of the 17 projects approved, agreements for nine projects were immediately signed between GCF and AE partners at a signing ceremony on 3 July. They include GCF’s first single-country projects in Papua New Guinea, Saint Lucia and Mauritania, GCF’s first  programme in the education sector, GCF’s first dedicated livestock programme, a project scaling up climate resilience in Africa’s Great Green Wall, a nature-based solutions project in South Africa, and climate information services projects in Ghana and the Maldives.

Three projects also received their first disbursement. Funds were disbursed for the Saint Lucia, South Africa, and Great Green Wall projects within 10 days of the project signings.

The nine projects are as follows:

SAP050: Toward Risk-Aware and Climate-resilienT communities (TRACT) - Strengthening climate services and impact-based multi-hazard early warning in Maldives with United Nations Environment Programme (UNEP)

SAP053: FISH-ADAPT: Transforming climate resilience and sustainability in Saint Lucia’s fisheries communities with Food and Agriculture Organization of the United Nations (FAO)

FP265: Climate-resilient landscapes for sustainable livelihoods in northern Ghana with United Nations Environment Programme (UNEP)

FP266: Strengthening the resilience of ecosystems and populations in four regional hubs in northern Mauritania with United Nations Environment Programme (UNEP)

FP267: Scaling up ecosystem-based approaches to managing climate-intensified disaster risks in vulnerable regions of South Africa ("Eco-DRR") with South African National Biodiversity Institute (SANBI)

FP268: Scaling-Up Resilience in Africa’s Great Green Wall (SURAGGWA) with Food and Agriculture Organization of the United Nations (FAO)

FP269: DaIMA – Dairy Interventions for Mitigation and Adaptation with International Fund for Agricultural Development (IFAD)

FP273: Papua New Guinea REDD-plus RBP for results period 2014-2016 with Food and Agriculture Organization of the United Nations (FAO)

FP274: Building the Climate Resilience of Children and Communities through the Education Sector (BRACE) with Save the Children Australia

For more information about the projects, click here.