Nineteen new projects supporting climate action in developing countries were approved for financing at the 21st meeting of the Green Climate Fund (GCF) Board, and will receive a total of USD 1.048 million.
The GCF board also launched the Fund’s first formal replenishment, a key moment in the development of what is now the world’s largest fund for climate action.
Financing will be provided for projects across the globe, including USD 15.5 million for productive investment initiative for adaption to climate change (CAMBio II) in Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama with CABEI, as well as USD 35.8 million for upscaling climate resilience measures in the dry corridor agro-ecosystems of El Salvador (RECLIMA) with FAO.
This brings the GCF’s portfolio to 93 projects, with 39 projects under implementation. Contributions from their own resources amount to over USD 4.5 billion, and they’ve further mobilised more than USD 8 billion in climate financing, including co-financing, since the start of this year.
