Board prepares to consider eight new public sector project proposals as GCF pipeline growsSongdo,
Eight new public sector project proposals have been published ahead of the Board’s thirteenth meeting later this month. The proposals amount to a total request for investment of USD 208 million from the Fund. They will be considered at the Board's B.13 meeting which will take place from 28-30 June at GCF’s Headquarters in Songdo, Republic of Korea.
In line with the Fund’s mission to address both emissions and resilience, five of the proposals will increase the capacity of countries to adapt to the adverse impacts of climate change, two are aimed at lowering emissions growth, and one proposal will support both objectives of adapting and reducing emissions.
Project proposals are drawn from Africa, Asia-Pacific, Latin America & the Caribbean and Eastern Europe regions, and cover activities ranging from energy efficiency investments through to building coastal resilience in vulnerable areas.
The proposals are taken from GCF’s pipeline, which has now reached 41 proposals totalling funding requests for USD 2.4 billion, with a total project value of USD 6.6 billion.
Approval of this tranche of funding proposals would bring the Fund’s investment portfolio to a total GCF funding amount of USD 376 million, with a USD 943 million total project cost.
An overview of the new funding proposals is available here.