Ten new projects backed by the Green Climate Fund (GCF) are on track for implementation, with two projects setting record times for rapid delivery. Steps were accelerated by the Fund to get projects out-the-door as quickly as possible upon their approval by the GCF Board.
GCF signed Funded Activity Agreements (FAA) for 10 projects immediately after their approval at the 39th meeting of the GCF Board. The Fund set a record for fastest delivery with a project in Bhutan moving from Board approval to FAA signing to first disbursement in just one day and a project in Malawi in seven days.
The FAA is an agreement that contains conditions to be fulfilled by the GCF Accredited Entity (AE) and must be negotiated and signed by GCF and the AE before the project can launch. As this can be a lengthy process, GCF has been making efforts to speed this step up. This is part of GCF’s efficiency agenda that aims to swiftly deliver projects in developing countries through reforming the Fund’s funding processes.
The 10 projects will increase climate resilience in some of the most climate-vulnerable countries such as Pakistan, Mozambique and Tonga. Two of the projects are direct access, implemented by national or subnational organisations, Bhutan Trust Fund for Environmental Conservation (BTFEC) and Centre de Suivi Écologique (CSE). For more information about the projects, please click here.
- SAP038: Climate Adaptation, Resilience and Engagement in Local Governments (CARE-LG) with Bhutan Trust Fund for Environmental Conservation (BTFEC)
- SAP039: Integrated climate risk management for strengthened resilience to climate change in Buner and Shangla Districts of Khyber Pakhtunkhwa Province with World Food Programme (WFP)
- SAP040: Climate Adaptation and Resilience in Thua Thien Hue Province Vietnam (CARe Hue) with Agence Luxembourgeoise pour la Coopération au Développement (LuxDev)
- SAP042: Building climate resilience by linking climate adaptation and social protection through decentralised planning in Mozambique (LINK) with Save the Children Australia (SCA)
- SAP043: Upscaling “Naatangué” integrated family and village farms for a resilient agriculture in Senegal with Centre de Suivi Écologique (CSE)
- FP232: Jordan Integrated Landscape Management Initiative (JILMI) with United Nations Environmental Programme (UNEP)
- FP233: Community-based Agriculture Support Programme ‘plus’ (CASP+) with International Fund for Agricultural Development (IFAD)
- FP234: Tonga Coastal Resilience with United Nations Development Programme (UNDP)
- FP235: Mangroves for climate: Public, Private and Community Partnerships for Mitigation and Adaptation in Ecuador with Conservation International (CI)
- FP238: Ecosystems-based Adaptation for resilient Watersheds and Communities in Malawi (EbAM) with Food and Agriculture Organization (FAO)
German Velasquez, GCF Director of Mitigation and Adaptation (front left) and Dr. Karma Tshering, Managing Director, BTFEC (front right),with teams at the FAA signing for a climate resilience project in Bhutan on 18 July, paving the way for disbursement one day later. Left to right, second row: Rinchen Wangmo, Procurement Officer, BTFEC; Sonam Wangmo, Head of HR and Administration, BTFEC; Ugyen Tshering, GCF Program Coordinator, BTFEC, Tshering Choden, Assistant Program Coordinator, Ministry of Finance (NDA/lead EE for CARE-LG); right to left, third row: Kinley Tshering, Chief Program Officer, BTFEC.
Mafalda Duarte, GCF Executive Director (fourth from left) and Nadine Valat, FAO-GCF coordinator, FAO (third from left), Julien Vallet, Lead Formulator, FAO (second from left) and Hoshie Kato, Climate Finance Officer (fifth from left), FAO marking the FAA signing for an ecosystems-based adaptation project in Malawi that moved from approval to disbursement in seven days.
GCF Deputy Executive Director and Chief Investment Officer Henry Gonzalez (centre right) with representatives from BTFEC, WFP, LuxDev, CSE, UNEP, IFAD, UNDP, Save the Children Australia, Conservation International, FAO, and Luxembourg’s Ambassador to Korea, Jacques Flies at the FAA signing ceremony.