FP223
Project GAIA ("GAIA")
Project GAIA ("GAIA")
In the past two decades, there has been an 83 per cent global increase in the frequency of major climate-related disasters, such as floods, droughts, heatwaves, and violent maritime weather. Low- and middle-income economies bear the heaviest burden related to these events. Yet climate adaptation investments in the most vulnerable, least prepared states are often too few and too far between to meet their adaptation needs. The estimated annual cost of adaptation in these countries is expected to reach as much as 500 billion per year in 2050. To meet the adaptation needs of the most vulnerable countries, public and private financiers have to work together in investment partnerships. This is the driving force behind Project GAIA.
Project GAIA will establish a blended finance platform that offers long-term loans for climate adaptation and mitigation investments in 19 of the most climate vulnerable countries in the world - making funding accessible through sources previously unattainable to participating countries. To answer to the immediate needs of developing countries, the platform allocates 70 per cent of its portfolio investments towards adaptation projects; with a further allocation of 25 per cent for Least Developed Countries and Small Island Developing States, ensuring that funding reaches the most climate vulnerable communities. The project targets countries facing similar challenges in accessing climate finance for their pipeline of high-impact adaptation projects.
Project timeline
Pipeline
21 Feb 2022 - 612 days
Concept note received
21 Feb 2022
Funding proposal received
16 Jun 2022
Legal opinion on AE's Internal Approval
26 Oct 2022
Cleared by GCF Secretariat
08 Dec 2022
Cleared by iTAP
02 Oct 2023
Approved
25 Oct 2023 - 394 days so far
Approved by GCF Board
25 Oct 2023
Under implementation
To be completed
Three regions
- Latin America and the Caribbean
- Africa
- Asia-Pacific
Nineteen countries
- Barbados
- Benin
- Costa Rica
- Côte d'Ivoire
- Dominican Republic (the)
- Ghana
- Guatemala
- India
- Indonesia
- Jamaica
- Kenya
- Mauritius
- Mongolia
- Morocco
- Panama
- Peru
- Philippines (the)
- Tanzania
- Togo
Three priority groups
- Least Developed Countries
- Small Island Developing States
- African States
USD
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing
| Instrument | Amount |
|---|---|
| Equity | USD 152,500,000 |
| Total GCF Financing |
|---|
| USD 152,500,000 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Loan | USD 295,000,000 |
| Co-Financing | Loan | USD 75,000,000 |
| Co-Financing | Loan | USD 25,000,000 |
| Co-Financing | Equity | USD 70,000,000 |
| Co-Financing | Loan | USD 775,000,000 |
| Co-Financing | Equity | USD 65,000,000 |
| Co-Financing | Equity | USD 25,000,000 |
| Total Co-Financing |
|---|
| USD 1,330,000,000 |
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
MUFG Bank, Ltd
Ms. Ariane Pevide
Director
Ropemaker Place, 25 Ropemaker Street, London, United Kingdom
Primary
Director
Ropemaker Place, 25 Ropemaker Street, London, United Kingdom
Ms. Yuko Chino
Vice President
20F, Marunouchi Eiraku Building 1-4-1, Marunouchi, Chiyoda-ku., Tokyo, Japan
Secondary
Vice President
20F, Marunouchi Eiraku Building 1-4-1, Marunouchi, Chiyoda-ku., Tokyo, Japan
More contacts
National Designated Authority
Barbados
Economic Affairs and Investment Division Ministry of Finance, Economic Affairs and Investment
Senator the Honourable Chad Blackman Primary
Minister in the Ministry of Finance, Economic Affairs and Investment (Economic Affairs and Investment Division)
3rd Floor East, Warrens Office Complex Warrens, St Michael, Barbados
Minister in the Ministry of Finance, Economic Affairs and Investment (Economic Affairs and Investment Division)
3rd Floor East, Warrens Office Complex Warrens, St Michael, Barbados
Mrs. Betty Alleyne-Headley Secondary
Permanent Secretary, Economic Affairs and Investment Division, Ministry of Finance, Economic Affairs and Investment
3rd Floor East, Warrens Office Complex, Warrens St. Michael, St. Michael, Barbados
Permanent Secretary, Economic Affairs and Investment Division, Ministry of Finance, Economic Affairs and Investment
3rd Floor East, Warrens Office Complex, Warrens St. Michael, St. Michael, Barbados
Mr. Ricardo Marshall Operational focal point
Director, Roofs to Reefs Programme (R2RP), Prime Minister’s Office
Government Headquarters Bay Street St. Michael, Barbados
Director, Roofs to Reefs Programme (R2RP), Prime Minister’s Office
Government Headquarters Bay Street St. Michael, Barbados
Mr. Ronnie Griffith Operational focal point
Chief Economist, Economic Affairs and Investment Division, Ministry of Finance, Economic Affairs and Investment
Chief Economist, Economic Affairs and Investment Division, Ministry of Finance, Economic Affairs and Investment
Ms. Richelle Gaskin Operational focal point
Economist I, Economic Affairs and Investment Division, Ministry of Finance, Economic Affairs and Investment
Economist I, Economic Affairs and Investment Division, Ministry of Finance, Economic Affairs and Investment
Ms. Sharifa Roach-Vaughan Operational focal point
Secretary to the Minister, Economic Affairs and Investment Division, Ministry of Finance, Economic Affairs and Investment
Secretary to the Minister, Economic Affairs and Investment Division, Ministry of Finance, Economic Affairs and Investment
Benin
Ministry of Living Environment and Sustainable Development
Mr. Martin Aïna Primary
Director General, Division of Climate Change
01 BP 3502 - 01 BP 3621, Cotonou, Benin
Director General, Division of Climate Change
01 BP 3502 - 01 BP 3621, Cotonou, Benin
Mr. Théodore Domingo Secondary
01 BP 3502 - 01 BP 3621, Cotonou, Benin
01 BP 3502 - 01 BP 3621, Cotonou, Benin
Costa Rica
Ministry of Environment and Energy
Mr. Carlos Isaac Pérez Mejía Primary
Vice-minister of Strategic Affairs
Calle 25. Av. 8-10, San Jose, Costa Rica
Vice-minister of Strategic Affairs
Calle 25. Av. 8-10, San Jose, Costa Rica
Ms. Enid Chaverri Tapia Primary
International Cooperation Director
Calle 25. Av. 8-10, San Jose, Costa Rica
International Cooperation Director
Calle 25. Av. 8-10, San Jose, Costa Rica
Ms. Patricia Campos Mesén Secondary
International Cooperation Officer
Calle 25. Av. 8-10, San José, Costa Rica
International Cooperation Officer
Calle 25. Av. 8-10, San José, Costa Rica
Côte d'Ivoire
Minister's Office, Ministry of Environment and Sustainable Development
Mr. Marcel YAO Primary
Public Policy, Climate Change and Ecological Transition Expert / Technical Advisor to the Minister in charge of International Cooperation and Resource Mobilization
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Abidjan, Cote d'Ivoire
Public Policy, Climate Change and Ecological Transition Expert / Technical Advisor to the Minister in charge of International Cooperation and Resource Mobilization
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Abidjan, Cote d'Ivoire
Mr. Kouadio Philippe Secondary
Deputy Director of Climate Change
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Cote d'Ivoire
Deputy Director of Climate Change
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Cote d'Ivoire
Dominican Republic (the)
Ministry of Environment and Natural Resources
Ms. Ana Emilia Pimentel Primary
Viceminister of Climate Change and Sustainibility
Ave. Cayetano Germosén esq. Ave. Gregorio Luperón. Ensanche El Pedregal, Santo Domingo, Dominican Republic (the)
Viceminister of Climate Change and Sustainibility
Ave. Cayetano Germosén esq. Ave. Gregorio Luperón. Ensanche El Pedregal, Santo Domingo, Dominican Republic (the)
Ghana
Ministry of Finance
Mrs Phyllis Fraikue Primary
Ag. Director, Climate Financing Division
P.O.Box MB40, Ministries, Accra, Ghana
Ag. Director, Climate Financing Division
P.O.Box MB40, Ministries, Accra, Ghana
Phone +233501290102
Phone +233244152226
aquansah@mofep.gov.gh
romensah@mofep.gov.gh
jsmith@mofep.gov.gh
fgyamfi@mofep.gov.gh
aasante@mofep.gov.gh
Phone +233244152226
aquansah@mofep.gov.gh
romensah@mofep.gov.gh
jsmith@mofep.gov.gh
fgyamfi@mofep.gov.gh
aasante@mofep.gov.gh
Guatemala
Ministry of Environment and Natural Resources
Her Excellency Ana Patricia Orantes Thomas Primary
Minister of Environment and Natural Resources of Guatemala
7 Avenida 03-67 Zona 13, Guatemala City, Guatemala
Minister of Environment and Natural Resources of Guatemala
7 Avenida 03-67 Zona 13, Guatemala City, Guatemala
Ms. Melanie Mus Figueroa Operational focal point
Head of International Cooperation
7 Avenida 03-67 Zona 13, Guatemala City, Guatemala
Head of International Cooperation
7 Avenida 03-67 Zona 13, Guatemala City, Guatemala
India
Ministry of Environment, Forests and Climate Change
Ms. Rajasree Ray Primary
Economic Advisor
Indira Paryavaran Bhavan, Jor Bagh Road, New Delhi-110003, New Delhi, India
Economic Advisor
Indira Paryavaran Bhavan, Jor Bagh Road, New Delhi-110003, New Delhi, India
Indonesia
Fiscal Policy Agency, Ministry of Finance
Mr. Febrio Kacaribu Primary
Chairman of Fiscal Policy Agency, Ministry of Finance
R.M. Notohamiprodjo Building 2nd Floor, Jalan Dr. Wahidin Raya No. 1, Jakarta, Indonesia
Chairman of Fiscal Policy Agency, Ministry of Finance
R.M. Notohamiprodjo Building 2nd Floor, Jalan Dr. Wahidin Raya No. 1, Jakarta, Indonesia
Mr. Boby Hernawan Secondary
Director of Center for Climate Finance and Multilateral Policy/Head of the NDA Secretariat
R.M. Notohamiprodjo Building 5th Floor, Jalan Dr. Wahidin Raya No. 1, Jakarta, Indonesia
Director of Center for Climate Finance and Multilateral Policy/Head of the NDA Secretariat
R.M. Notohamiprodjo Building 5th Floor, Jalan Dr. Wahidin Raya No. 1, Jakarta, Indonesia
Jamaica
Ministry of Economic Growth and Job Creation (MEGJC)
Ms. Schmoi McLean Secondary
Programme Coordination, Monitoring and Evaluation Officer
Programme Coordination, Monitoring and Evaluation Officer
Kenya
The National Treasury
Dr Chris Kiptoo Primary
Principal Secretary
Treasury Building 12th Floor, Harambee Avenue, Nairobi, Kenya
Principal Secretary
Treasury Building 12th Floor, Harambee Avenue, Nairobi, Kenya
Mr. Malik Aman Secondary
Programme Manager, National Coordination (FLLoCA)
Programme Manager, National Coordination (FLLoCA)
Mr. Peter Odhengo Secondary
Senior Policy Advisor, Climate Finance
Senior Policy Advisor, Climate Finance
Mauritius
Ministry of Finance and Economic Development
Mr. Visvanaden Soondram Primary
Deputy Financial Secretary
Government Centre, Port Louis, Mauritius
Deputy Financial Secretary
Government Centre, Port Louis, Mauritius
Mrs. Usha Beegun-Ramduny Secondary
Lead Analyst, Resource Mobilisation Cluster
Lead Analyst, Resource Mobilisation Cluster
Mongolia
Ministry of Environment and Tourism
Mr. Batkhishig Purevdoo Primary
Special Envoy on Climate Change of Mongolia, Ministry of Environment and Climate Change
Ministry of Environment and Climate Change Artsatiin am 624 Khan - Uul District 23rd khoroo, Ulaanbaatar, Mongolia
Special Envoy on Climate Change of Mongolia, Ministry of Environment and Climate Change
Ministry of Environment and Climate Change Artsatiin am 624 Khan - Uul District 23rd khoroo, Ulaanbaatar, Mongolia
Ms. Narangaravuu Altangerel Secondary
Senior Analyst, International Cooperation Department, Ministry of Environment and Climate Change
Senior Analyst, International Cooperation Department, Ministry of Environment and Climate Change
Morocco
Ministry of Energy Transition and Sustainable Development- Department of Sustainable Development
Mr. Bouzekri Razi Primary
Director of Climate Change, Biodiversity, and Green Economy
Director of Climate Change, Biodiversity, and Green Economy
Panama
Ministry of Environment
Mr. Juan Carlos Monterrey Primary
Climate Change Director
Diego Dominguez Street, Building 804 Albrook, Ancón, Panama City, Panama
Climate Change Director
Diego Dominguez Street, Building 804 Albrook, Ancón, Panama City, Panama
Mr. Ángel Cárdenas Secondary
Head of International Technical Cooperation Office
Diego Dominguez Street, Building 804 Albrook, Ancón, Panama City, Panama
Head of International Technical Cooperation Office
Diego Dominguez Street, Building 804 Albrook, Ancón, Panama City, Panama
Peru
Ministry of Economy and Finance
Mr. Jose Alfredo La Rosa Basurco Primary
General Director, General Directorate of International Economic Affairs, Competition and Productivity
Jr. Lampa N° 277 - Cercado de Lima,, Lima, Peru
General Director, General Directorate of International Economic Affairs, Competition and Productivity
Jr. Lampa N° 277 - Cercado de Lima,, Lima, Peru
Philippines (the)
Department of Finance
Mr. Joven Balbosa Primary
Undersecretary, International Finance Group
Undersecretary, International Finance Group
Tanzania
Vice President's Office
Eng. Cyprian Luhemeja Primary
Permanent Secretary
Permanent Secretary
Dr Freddy Manyika Secondary
Principal Forest Officer, UNFCCC National Focal Point
Principal Forest Officer, UNFCCC National Focal Point
Togo
Directorate of Environment, Ministry of Environment
Ms. Méry YAOU Primary
Director of Environment
240 rue des Nîmes Lomé - Togo -, Lomé, Togo
Director of Environment
240 rue des Nîmes Lomé - Togo -, Lomé, Togo
Mr. Komi Sossou SOSSOU Secondary
Environmentalist, head of planning unit
240 rue des Nîmes Lomé - Togo, Lomé, Togo
Environmentalist, head of planning unit
240 rue des Nîmes Lomé - Togo, Lomé, Togo
Documents
| Title | Type | Date |
|---|---|---|
| Project GAIA ("GAIA") | Approved funding proposal | 24 Nov 2023 |
| Gender action plan for FP223: Project GAIA ("GAIA") | Gender action plan | 25 Oct 2023 |
| Gender assessment for FP223: Project GAIA ("GAIA") | Gender assessment | 25 Oct 2023 |
| Environmental and social safeguards (ESS) report for FP223: Project GAIA (“GAIA”) | Environmental and Social Safeguards report | 23 Jun 2023 |
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