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Saturday, September 30, 2023

GCF lays climate finance footing in Africa, Pacific

Recent expansion of assistance by the Green Climate Fund (GCF) to countries preparing to implement climate finance is targeting Africa and the Pacific.

Howard Bamsey
Executive Director, Green Climate Fund (GCF), Howard Bamsey

The GCF has provided $700,000 to the Ministry of Natural Resources of Rwanda, a GCF direct access Accredited Entity, to assist the development of projects under the Fund’s Project Preparation Facility (PPF). This is an additional tranche within a $1.5 million grant under this funding package, which GCF provides to support various phases in developing climate finance projects.

The Fund has also disbursed $120,000 to Mauritania for activities under GCF’s Readiness Programme, which provides developing countries with resources to enhance country ownership and access to climate finance.

Through a partnership with United Nations Environment Programme (UNEP), over $1.4 million have been disbursed to help boost the capacities for climate programmes in Egypt, Ghana, Jordan, Maldives, Nepal and Tonga.

GCF also has provided $130,000 in Readiness assistance, the second part of a $300,000 grant, to the Secretariat of the Pacific Community (SPC), an organisation governed by 26 Small Island Developing States (SIDS) that coordinates the design and implementation of climate change adaptation and mitigation projects across the Pacific.

To date, the Green Climate Fund has disbursed more than $9 million for Readiness activities in developing countries across all regions.

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