The 21st meeting of the Green Climate Fund (GCF) Board which ended on Sunday in Bahrain, and over one billion dollars of new projects and programmes to support climate action in developing countries has been approved. The Fund’s first replenishment was also launched.
The 19 new projects amount to a total investment from GCF of $1.038 billion, and including co-financing the projects will channel over USD 4,244 million of climate finance for low-emission, climate-resilient development. GCF now has a portfolio of 93 projects amounting to over USD 4,605 million of GCF resources.
At the close of the four day meeting the Board decided to launch the process for the Green Climate Fund’s first formal replenishment, marking a key moment in the development of the world’s largest dedicated fund for climate action.
Co-Chair Lennart Båge stated, “The B.21 Board meeting exceeded…
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