Monday 9th December 2019
Monday, 9th of December 2019
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GCF to consider $208m new proposals at Songdo forum

Eight new public sector project proposals have been published ahead of the Green Climate Fund (GCF) Board’s 13th meeting scheduled to hold later this month.

Hela Cheikhrouhou, Executive Director of the Green Climate Fund. Photo credit: gettyimages.com

Hela Cheikhrouhou, Executive Director of the Green Climate Fund. Photo credit: gettyimages.com

The proposals amount to a total request for investment of $208 million from the Fund. They will be considered at the Board’s B.13 meeting which will take place from 28-30 June at GCF’s headquarters in Songdo, Republic of Korea.

In line with the Fund’s mission to address both emissions and resilience, five of the proposals will increase the capacity of countries to adapt to the adverse impacts of climate change, two are aimed at lowering emissions growth, and one proposal will support both objectives of adapting and reducing emissions.

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Project proposals are drawn from Africa, Asia-Pacific, Latin America & the Caribbean and Eastern Europe regions, and cover activities ranging from energy efficiency investments through to building coastal resilience in vulnerable areas.

The proposals are taken from GCF’s pipeline, which has now reached 41 proposals totalling funding requests for $2.4 billion, with a total project value of $6.6 billion.

Approval of this tranche of funding proposals would bring the Fund’s investment portfolio to a total GCF funding amount of $376 million, with a $943 million total project cost.

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