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Project Briefs

The Board meeting in Zambia saw the approval of the Fund’s first investments. Eight projects were given the go-ahead, for a total GCF investment of USD 168 million

The projects cover both mitigation and adaptation activities, and include three in Africa, three in Asia-Pacific, and two in Latin America. Details of the projects are given here and below.

The full set of Project Briefs is here.
  1. Building Resilience of Wetlands in the Province of Datem del Marañón, Peru (GCF Funding: USD 6.2M Grant) - Enhancing the climate resilience and livelihoods of the indigenous wetlands communities of Datem del Marañón in the Amazon basin, while reducing greenhouse gas (GHG) emissions from deforestation.
  2. Scaling Up the Use of Modernized Climate Information and Early Warning Systems in Malawi (GCF Funding: USD 12.3M Grant) - Protecting lives and livelihoods in Malawi from climate-related disasters by providing early warning weather and climate information systems and improving the resilience of vulnerable communities.
  3. Increasing the Resilience of Ecosystems and Communities through the restoration of the productive bases of salinized lands in Senegal (GCF Funding: USD 7.6M Grant) - Restoring salinized lands through improved knowledge and planning, and implementing measures such as hydraulic works, reforestation, anti-soil erosion systems, and use of adapted agriculture. 
  4. Climate-Resilient Infrastructure Mainstreaming in Bangladesh (GCF Funding: USD 40M Grant) - Providing cyclone shelters and safeguarding critical road access to protect lives in a rural, coastal region of Bangladesh. Developing urban infrastructure, safeguarding vulnerable city-dwellers from climate risk. Establishing a national centre of excellence for climate resilience infrastructure, to inform and guide future infrastructure development throughout the country.
  5. KawiSafi Ventures Fund in East Africa (GCF Funding: USD 20M Equity, USD 5M Grant) - Creating a new investment fund, KawiSafi, to drive off-grid solar power in East Africa. Investing in 10-15 clean energy companies, initially in Rwanda and Kenya, providing household solar technologies. 
  6. Energy Efficiency Green Bonds in Latin America and the Caribbean (GCF Funding in the Pilot Phase: USD 20M Guarantees, USD 2M Grant) - Providing an alternative financing source for energy efficiency (EE) projects through the use of green bonds. The bonds will finance EE projects below 30 megawatts per hour (mwh) in size, opening them up to new investors by pooling and securitizing them. The Fund further allocated up to USD 195 million to loans and guarantees towards scaling up and replication of the pilot phase.
  7. Supporting Vulnerable Communities in Maldives (GCF Funding: USD 23.6M Grant) - Providing safe and secure freshwater to 105,000 people on the outer islands of the Maldives, in response to climate change-induced water shortages. Introducing integrated water supply systems, decentralized dry season water supplies, and improvements to groundwater quality. 
  8. Urban Water Supply and Wastewater Management in Fiji (GCF Funding: USD 31M Grant) - Building and renovating infrastructure to improve access to safe water and sewerage systems in the greater Suva area of Fiji. Creating a new river water intake station on the River Rewa and improving the Kinoya wastewater treatment plant and associated sewer coverage.