Green Climate Fund to approve eleven project funding proposals at 38th Board meeting
The 38th meeting of the Green Climate Fund (GCF) Board will take place in Kigali, Rwanda from 4-7 March 2024.
Eleven project funding proposals requesting a total of USD 489.9 million of GCF funding will be put to the GCF Board for approval. These include six adaptation projects, one mitigation project, and four cross-cutting projects. Seven of the funding proposals target vulnerable countries (Least Developed Countries (LDCs), Small Island Developing States (SIDS), and African States). With co-financing, the funding proposals under consideration have a total value of USD 1.26 billion.
The Board will also consider proposals from eight organisations for GCF accreditation, six of which are sub-national, national, or regional organisations (Direct Access Entities).
Other items on the agenda include reports on the activities of the GCF Secretariat and independent units, the action plan to implement GCF’s strategic plan for 2024-2027, the Board workplan for 2024-2027, and the status of GCF resources, pipeline, and portfolio performance. In addition, there will be the Co-Chairs’ proposal in response to the COP28 guidance to GCF, and presentations by the Independent Evaluation Unit (IEU) on its evaluation to GCF’s approach to the energy sector and GCF’s Investment Framework.
The meeting is the first to be held under the direction of the Board’s new Co-Chairs, Milagros De Camps German from the Dominican Republic, and Sarah Metcalf from the United Kingdom. GCF Board members and their alternates are drawn equally from developed and developing countries.
