At a turning point: Catalysing climate finance in the era of COVID-19

As the world’s largest dedicated climate fund supporting developing countries respond to the challenge of climate change, GCF has a vital role to play in implementing the Paris Agreement and SDGs. Committed to both adaptation and mitigation, GCF can tailor investments to address the specific barriers faced by developing countries and offers a range of financing instruments, including grants, guarantees and equity, to structure investments so they do not exacerbate debt burdens. Working with our partners, GCF also provides innovations to catalyse and align private financial flows to create a paradigm shift towards sustainable economies.

Against this backdrop, the GCF invited speakers to share their views on the options available to developing countries to finance a green, resilient recovery. Panelists also discussed innovative ways to reinforce public-private partnerships to catalyse additional finance to drive transformative climate action. High-level speakers included Ministers from Rwanda, Ghana, the United Kingdom, and State Secretary of Germany, CEOs and Heads of GCF project partners from WWF – US, IDFC, Acumen, and Palli Karma-Sahayak Foundation (PKSF). The UN Deputy Secretary-General Amina Mohammed sent a powerful video message to all participants. Insights from this event will inform the work of the High-Level Initiative on Financing for Development in the Era of COVID-19 and Beyond, convened by Canada, Jamaica and the UN Secretary-General.