Green Climate Fund Approves $686.8 Million for 11 Climate Projects Across 42 Countries
The Green Climate Fund (GCF) has approved USD 686.8 million in GCF investment—USD 1.5 billion with co-financing—for 11 projects spanning 42 countries. These initiatives are expected to provide direct support to 115.5 million people and mitigate the equivalent of 45.3 million metric tonnes of CO₂.
As the world’s largest dedicated climate fund, GCF was established under the United Nations Framework Convention on Climate Change (UNFCCC) to assist developing countries in climate adaptation and mitigation efforts. It mobilizes funding to drive climate action and resilience-building in vulnerable regions.
Co-chair Seyni Nafo from Mali highlighted the significance of the newly approved projects, stating: “The 11 new projects will bring urgently needed climate finance to support developing countries. It is particularly gratifying to see that we are broadening our impact. Six of the approved Funding Proposals will move straight to implementation with immediate project agreement signings, showing that the GCF is responding to the urgent need for action on the ground.”
Among the newly approved initiatives are first-time single-country investments in Serbia to enhance forest resilience and in Togo to strengthen the climate resilience of vulnerable communities.
During the same meeting, the GCF Board decided that the Fund, headquartered in the Republic of Korea, would establish a regional presence to improve accessibility and increase the impact of its projects in developing countries.
GCF Executive Director Mafalda Duarte emphasized this move, saying: “If climate action is local action—which it is—then the Green Climate Fund needs to be local too. I’m pleased that the Fund has taken a historic step in establishing a presence in key regions, bringing our world-class specialists closer to those who will benefit most from their support. This decision strengthens our ability to deliver on the more than USD 680 million in new climate action.”
With the latest approvals, GCF’s overall portfolio now comprises 297 projects, with a total GCF funding amount of USD 16.6 billion and USD 62.7 billion with co-financing. Investment is primarily through grants (74%), supplemented by loans (16%) and equity (10%).
Regionally, investment distribution is as follows: Africa (38%), Latin America and the Caribbean (32%), Asia Pacific (27%), Eastern Europe, Central Asia, and the Middle East (3%). Of the total adaptation envelope, 63% will be allocated to Least Developed Countries.
Board Co-chair Leif Holmberg from Sweden reinforced the importance of these investments, stating: “During these challenging times, GCF is showing how countries can reaffirm their individual and collective commitment to accelerating support to climate-vulnerable communities. It demonstrates that increasing access to vital finance on the frontlines of the climate crisis remains a top priority for the Board.”
The 11 projects approved at the 41st GCF Board meeting are:
- SAP048: Strengthening the resilience of vulnerable communities within high climatic and disaster risk areas in Togo, with Banque Ouest Africaine de Développement (BOAD)
- SAP049: Sustainable Communities for Climate Action in the Yucatán Peninsula (ACCION), Mexico, with Fondo Mexicano para la Conservación de la Naturaleza A.C. (FMCN)
- FP255: Transforming Livelihoods through Climate Resilient, Low Carbon, Sustainable Agricultural Value Chains in the Lake Region Economic Bloc, Kenya, with FAO
- FP256: Intensification of Agriculture and Agroforestry Techniques (IAAT) for climate-resilient food and nutrition security in Mali, with Save the Children Australia
- FP257: RE-GAIN: Scaling solutions for food loss in Africa, with AGRA
- FP258: Multi-country Project Advancing Early Warnings for All (EW4All), with UNDP
- FP259: Adapting tuna-dependent Pacific Island communities and economies to climate change, with Conservation International
- FP260: Enhancing the resilience of Serbian forests to ensure energy security of the most vulnerable while contributing to their livelihoods and carbon sequestration (FOREST Invest), with FAO
- FP261: Improving Climate Resilience by Increasing Water Security in the Amazon Basin across Bolivia, Brazil, Colombia, Ecuador, Peru, and Suriname, with IDB
- FP262: Green Climate Finance Facility for Fostering Climate-Smart Agriculture in Senegal, with Le Banque d’Agricole
- FP263: Mirova Sustainable Land Fund 2 (MSLF2), with Mirova
