FP082
Catalyzing Climate Finance (Shandong Green Development Fund)
Catalyzing Climate Finance (Shandong Green Development Fund)
Catalysing private finance to maximize mitigation and adaptation impacts.
Among China’s provinces, Shandong has the highest energy consumption and is one of the most carbon-intensive - driven by its high use of coal as an energy source for its large industrial base. Limited public finance makes it difficult to meet the province’s goals to green its economy.
This project will catalyse private finance by offering adequate returns thanks to the blending of public finance, concessional donor finance, and private finance. It will support investments that maximise mitigation and adaptation initiatives across several sectors, in line with Shandong’s mitigation and adaptation policies, while tapping co-financing 7.3 times GCF’s contribution.
Project timeline
Pipeline
24 Apr 2018 - 570 days
Concept note received
24 Apr 2018
Funding proposal received
25 Jun 2018
Cleared by iTAP
20 Sep 2018
Approved
14 Nov 2019 - 873 days
Approved by GCF Board
14 Nov 2019
Legal opinion on AE's Internal Approval
05 Nov 2020
FAA executed
28 Oct 2021
Under implementation
04 Apr 2022 - 976 days so far
FAA effective
04 Apr 2022
Disbursement - USD 28,000,000
23 Sep 2022
Disbursement - USD 20,000,000
23 Apr 2024
Disbursement - USD 27,000,000
03 Dec 2024
To be completed
04 Apr 2042 - 6,331 days to go
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing75% disbursed
| Instrument | Amount |
|---|---|
| Loan | USD 100,000,000 |
| Total GCF Financing |
|---|
| USD 100,000,000 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Loan | USD 100,000,000 |
| Co-Financing | Equity | USD 626,000,000 |
| Co-Financing | Loan | USD 79,113,924 |
| Co-Financing | Equity | USD 375,000,000 |
| Co-Financing | Loan | USD 105,485,232 |
| Co-Financing | Equity | USD 15,000,000 |
| Total Co-Financing |
|---|
| USD 1,300,599,156 |
GCF Contacts
General media inquiries
GCF CommunicationsSend e-mail
Request for information
GCF Information DisclosureRequest information about this project
Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
File a complaint
Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6714 (KST)
Send e-mail
Entity
More contacts
National Designated Authority
Ministry of Finance (MOF) and Ministry of Ecology and Environment (MEE)
Senior Advisor International Financial Institution Division I Department of International Economic and Financial Cooperation, Ministry of Finance
No.3 Sanlihe Nansanxiang, Xicheng District, Beijing, China
Deputy Director International Policies and Negotiations Division Department of Climate Change, Ministry of Ecology and Environment
No.12 East Chang' an Avenue, Dongcheng District, Beijing, China
Documents
| Title | Type | Date |
|---|---|---|
| Environmental and social safeguards (ESS) report for FP082: Catalyzing Climate Finance (Shandong Green Development Fund): Jiulong River Basin Comprehensive Management Sub-project (Phase I) | Environmental and Social Safeguards report / Sub-project ESS report | 28 Nov 2023 |
| Catalyzing Climate Finance (Shandong Green Development Fund) | Approved funding proposal | 04 Dec 2019 |
| Environmental and social safeguards (ESS) report for FP082: Catalyzing Climate Finance (Shandong Green Development Fund) | Environmental and Social Safeguards report | 27 Sep 2018 |