FP173
The Amazon Bioeconomy Fund: Unlocking private capital by valuing bioeconomy products and services with climate mitigation and adaptation results in the Amazon
The Amazon Bioeconomy Fund: Unlocking private capital by valuing bioeconomy products and services with climate mitigation and adaptation results in the Amazon
Home to the world’s largest tropical forest, the Amazon is highly vulnerable to climate change. The combination of increased temperatures and deforestation are creating adverse climate feedback loops. Increasingly warmer and drier conditions will further result in forest degradation and loss of ecological functions, ultimately bringing the Amazon forests to the point of no return. Known as the tipping point, there may come a time when the forests die and are replaced by dry savannah-like landscapes. This would have grave consequences on biodiversity, agriculture, human health and livelihood, and would also affect the Amazon’s key role in absorbing and storing the world’s carbon.
GCF's new Amazon Bioeconomy Fund in six Amazon countries will deliver sustainable solutions to reduce the impacts of climate change in the Amazon biome by prioritizing natural capital and delivering climate benefits. The USD 600 million programme will include an investment of USD 279 million from GCF, and will be implemented with the Inter-American Development Bank. It will encourage private investment in six key areas of the bioeconomy: sustainable agroforestry, native palm cultivation, non-timber natural forest products, growing native species timber, aquaculture, and community-led nature tourism.
Project timeline
Pipeline
28 Sep 2020 - 375 days
Concept note received
28 Sep 2020
Funding proposal received
01 Apr 2021
Cleared by GCF Secretariat
16 Jul 2021
Approved
07 Oct 2021 - 357 days
Approved by GCF Board
07 Oct 2021
Cleared by iTAP
07 Oct 2021
Legal opinion on AE's Internal Approval
03 Feb 2022
FAA executed
02 Aug 2022
Under implementation
28 Sep 2022 - 690 days so far
FAA effective
28 Sep 2022
Disbursement - USD 26,250,000
28 Feb 2023
To be completed
28 Sep 2029 - 1,869 days to go
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing9% disbursed
Instrument | Amount |
---|---|
Loan | USD 135,000,000 |
Equity | USD 6,500,000 |
Grant | USD 87,500,000 |
Grant | USD 20,000,000 |
Grant | USD 30,000,000 |
Total GCF Financing |
---|
USD 279,000,000 |
Co-financing
Co-financer | Instrument | Amount |
---|---|---|
Co-Financing | Loan | USD 155,000,000 |
Co-Financing | Guarantee | USD 145,000,000 |
Co-Financing | Equity | USD 4,000,000 |
Co-Financing | Grant | USD 14,000,000 |
Co-Financing | In-kind | USD 1,100,000 |
Total Co-Financing |
---|
USD 319,100,000 |
GCF Contacts
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GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
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Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6714 (KST)
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Accredited Entity
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Inter-American Development Bank
Chief, Resource Mobilization Division
1300 New York Avenue, NW, 20577., Washington DC, United States
Lead Climate Change Specialist
1300 New York Avenue NW, Washington, D.C., United States
More contacts
National Designated Authority
Secretariat for International Affairs, Ministry of Finance
Secretary for International Affairs
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
Deputy Secretary for Sustainable Development Finance
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
General Coordinator for Sustainable Finance
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
National Planning Department
Director of Environment and Sustainable Development
Calle 26 No. 13-19, Bogotá, D.C, Colombia
NDA Technical Advisor
Calle 26 # 13 - 19, Bogotá, D.C., Colombia
Ministry of Environment, Water and Ecological Transition
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
angel.sandoval@ambiente.gob.ec
diego.quishpe@ambiente.gob.ec
kimberlly.mejia@ambiente.gob.ec
Office of the Vice President
Vice President, Co-operative Republic of Guyana
Shiv Chanderpaul Drive, Bourda,, Georgetown, Guyana
Lead Climate Change Negotiator, Office of the President, Department of Environment and Climate Change
Senior Director for Climate and REDD+, Ministry of Natural Resources
Ministry of Economy and Finance
General Director, General Directorate of International Economic Affairs, Competition and Productivity
Jr. Lampa N° 277 - Cercado de Lima,, Lima, Peru
Ministry of Spatial Planning and Environment
Minister
Prins Hendrikstraat #22, Paramaribo, Suriname
Permanent Secretary for Environment
Permanent Secretary for General and Financial Affairs