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GCF Board approves over USD 1 billion in funding for climate mitigation and adaptation

SONGDO, 

The first Green Climate Fund (GCF) Board meeting of 2018 concluded today after approving 23 projects, valued together at USD 1,093.5 million of GCF funding.

The new approvals bring the GCF portfolio to a total of 76 projects and programmes, amounting to USD 3,730.2 million in GCF funding to assist developing countries in their low emission and climate resilient development.

The Board elected Ambassador Lennart Båge and Dr. Paul Oquist as its Co-Chairs for 2018, representing developed and developing countries respectively. A number of significant policy decisions were also made to strengthen GCF’s operations, including adopting an Indigenous Peoples Policy, and an Environmental and Social Policy. In addition to the funding approvals, the Board approved an additional USD 60 million for the implementation of the Readiness Programme to assist developing countries in accessing GCF funds.

‘We have had a highly positive week, approving over USD 1 billion in projects, which is a record amount in a single GCF Board meeting,’ stated Paul Oquist, GCF Co-Chair.

‘This large volume of projects for both mitigation and adaptation – and the additional USD 60 million for readiness support – shows that GCF is ready to shift gear in supporting developing countries to achieve their climate goals. The projects adopted here will make a real impact in the face of climate challenges,’ he continued.

Fellow Co-Chair Lennart Båge stated: ‘The Board has successfully managed an ambitious agenda this week, demonstrating its commitment to deliver a serious contribution to the response to climate change. In particular, the adoption of an Indigenous Peoples Policy and an Environmental and Social Policy is an important step towards completing GCF’s policy framework.’

Båge concluded, ‘Paul and I would also like to thank our fellow Board members for their positive support, and to acknowledge that our work builds on the achievements of our predecessors as Co-Chairs, Ayman Shasly and Ewen McDonald.’


End notes

The nineteenth GCF Board meeting approved the following projects and programmes, including the first project submitted under the new Simplified Approval Process:

FP059 – USD 42.16 million for the Climate-Resilient Water Sector in Grenada (G-CREWS) with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH

FP060 – USD 27.61 million for the Water Sector Resilience Nexus for Sustainability in Barbados (WSRN S-Barbados) with Caribbean Community Climate Change Center (CCCCC)

FP061 – USD 20 million for the Integrated physical adaptation and community resilience through an enhanced direct access pilot in the public, private, and civil society sectors of three Eastern Caribbean small island developing states in Antigua and Barbuda, Dominica, and Grenada, with the Department of Environment, Ministry of Health and Environment, Government of Antigua and Barbuda (DOE ATG)

FP062 – USD 25.06 million for the Poverty, Reforestation, Energy and Climate Change Project (PROEZA) in Paraguay with the Food and Agriculture Organization of the United Nations (FAO)

FP063 – USD 23 million for Promoting private sector investments in energy efficiency in the industrial sector in Paraguay with the Inter-American Development Bank (IDB)

FP064 – USD 103 million for Promoting risk mitigation instruments and finance for renewable energy and energy efficiency investments in Argentina with the Inter-American Development Bank (IDB)

FP065 – USD 195 million for Financial Instruments for Brazil Energy Efficient Cities (FinBRAZEEC) in Brazil with the World Bank

FP066 – USD 25 million for the Pacific Resilience Project Phase II for RMI in the Marshall Islands with the World Bank

FP067 – USD 9.27 million for Building climate resilience of vulnerable and food insecure communities through capacity strengthening and livelihood diversification in mountainous regions of Tajikistan with the World Food Programme

FP068 – USD 27.05 million for Scaling-up Multi-Hazard Early Warning System and the Use of Climate Information in Georgia with UNDP

FP069 – USD 24.98 million for Enhancing adaptive capacities of coastal communities, especially women, to cope with climate change induced salinity in Bangladesh with UNDP

FP070 – USD 20 million for the Global Clean Cooking Program – Bangladesh with the World Bank

FP071 – USD 86.30 million for Scaling Up Energy Efficiency for Industrial Enterprises in Vietnam with the World Bank

FP072 – USD 32 million for Strengthening climate resilience of agricultural livelihoods in Agro-Ecological Regions I and II in Zambia with UNDP

FP073 – USD 32.79 million for Strengthening climate resilience of rural communities in Northern Rwanda with the Ministry of Environment of Rwanda (MOE)

FP074 – USD 22.50 million for the Africa Hydromet Program – Strengthening Climate Resilience in Sub-Saharan Africa: Burkina Faso Country Project with the World Bank

FP075 – USD 5 million for the Institutional Development of the State Agency for Hydrometeorology of Tajikistan with the Asian Development Bank (ADB)

FP076 – USD 40 million for Climate-Friendly Agribusiness Value Chains Sector Project in Cambodia with the Asian Development Bank (ADB)

FP077 – USD 145 million for the Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Project (AHURP) in Mongolia with the Asian Development Bank (ADB)

FP078 – USD 26 million for the Acumen Resilient Agriculture Fund (ARAF) in Ghana, Nigeria, Uganda, with the Acumen Fund Inc

FP080 – USD 52.50 million for the Zambia Renewable Energy Financing Framework with the African Development Bank (AfDB)

FP081 – USD 100 million for the Line of Credit for Solar rooftop segment for Commercial, Industrial and Residential Housing sectors in India with the National Bank for Agriculture and Rural Development (NABARD)

SAP001 – (Simplified Approval Process) USD 9.30 million for Improving rangeland and ecosystem management practices of smallholder farmers under conditions of climate change in Sesfontein, Fransfontein, and Warmquelle areas of the Republic of Namibia with the Environmental Investment Fund (EIF)

More than 350 participants took part in the 19th Board meeting, including observers from civil society and private sector organisations, National Designated Authorities (NDAs), Accredited Entities, and GCF Delivery Partners.

The video recording of this Board meeting is available on the GCF website.

The next GCF Board meeting, B.20, will take place from 1-4 July 2018, in Songdo, Republic of Korea.

Source: GCF

GCF Board opens B.19 meeting, elects Lennart Båge and Paul Oquist as new Co-Chairs

SONGDO, 

The Green Climate Fund (GCF) Board has today appointed two new Co-Chairs at its nineteenth meeting in Songdo, Republic of Korea. Paul Oquist has been elected as the developing country Co-Chair, whilst Lennart Båge is the developed country Co-Chair. They replace the outgoing Co-Chairs, Ayman M. Shasly (Developing Countries) and Ewen McDonald (Developed Countries).

In light of the fully charged agenda, the Board has decided to convert today’s planned informal meeting into a formal Board session. The B.19 Board meeting will therefore take place from Monday 26 February until Thursday 1 March, and will be presided by the incoming Co-Chairs.

Dr. Paul Oquist has represented the Republic of Nicaragua in international climate negotiations for many years. Dr. Oquist is currently Minister-Private Secretary for National Policies of President Daniel Ortega Saavedra, and is also Executive Secretary of The Commission of the Nicaraguan Grand Interoceanic Canal. He is a Member by the Latin American and Caribbean Group (GRULAC) to the UN Framework Convention on Climate Change Standing Committee on Finance, and represented developing countries on the Executive Committee of the UNFCCC Warsaw International Mechanism for Loss and Damage. Dr. Oquist was also a two-term member of the Committee of Experts on Public Administration (CEPA) of the United Nations Economic and Social Council (ECOSOC), and he has been Head of Delegation to the Climate Change Conference of Parties for Nicaragua since COP 15 in Copenhagen. He has a Ph.D. in Political Science from the University of California in Berkeley, California.

Ambassador Lennart Båge has a long career as a Swedish diplomat with a focus on multilateral development cooperation. He has an MBA from the Stockholm School of Economics and joined the Swedish Ministry for Foreign Affairs in 1974. Ambassador Båge brings a wealth of experience from being i.a. Director of the Swedish Agency for Research Cooperation with Developing Countries (SAREC), Head of the Multilateral Development Department of the MFA, President of the International Fund for Agricultural Development (IFAD), Executive Board Member and Acting Director General of the Swedish International Development Cooperation Agency (Sida). Ambassador Båge represented Sweden i.a. in the negotiations on the establishment and first replenishment of the Global Environmental Facility (GEF), served as Sweden’s IDA Deputy for the IDA 10, 11 and 12 Replenishments and facilitated and chaired the Initial Resource Mobilization (IRM) for the Green Climate Fund.

The documentation for the meeting can be found here: B.19 meeting documentation.
The proceedings of Board meetings are live-streamed on the GCF website.

Source: GCF
Donor: GCF | Czech Infrastructure Association
Centre for Developing Markets | Центр поддержки развивающихся рынков | Centrum pro rozvojové trhy
Date Project Title Country Donor Category Business Sector Budget Deadline
19.04.2018 Albania: Capacity Building of the new Albanian Transmission System Operator Albania EBRD Services Power & Energy 290 000 EUR 10.05.2018
19.04.2018 Preparation of a feasibility study for the use of biofuels in all types of transport in Turkey Turkey EBRD Services Climate Change 150 000 EUR 10.05.2018
18.04.2018 Khujand Solid Waste Project Tajikistan EBRD Works Solid Waste N/A 06.06.2018
18.04.2018 Energy Sector Strategy – Assistance in Strategy Drafting and Coordinating the Public Consultation N/A EBRD Services Power & Energy 100 000 EUR 09.05.2018
17.04.2018 Romania – Sustainable Water Infrastructure Facility Romania EBRD Services Water Supply & Sanitation 2 750 000 000 EUR N/A
16.04.2018 Tursun-Zade Solid Waste Tajikistan EBRD Works Solid Waste 4 000 000 USD 15.04.2019
14.04.2018 Design and studies for betterment of road on SEETO Route 2b, section Sarajevo – Foča (Brod na Drini) Bosnia and Herzegovina EC Services Highways 2 500 000 EUR N/A
14.04.2018 IPA – Technical Assistance and Supervision for Giresun Wastewater Project Turkey EC Services Water Supply & Sanitation 2 200 000 EUR N/A
14.04.2018 Utility Efficiency and Quality Improvement Project Belarus WB Services, Works Water Supply & Sanitation 70 000 000 USD N/A
13.04.2018 Belgrade Public Transport – Fleet Renewal Project – Technical, Environmental and Social Due Diligence Serbia EBRD Services Urban Development N/A 07.05.2018