Board to consider committing USD 788 million in project proposals and recruiting a new Executive Director at B.14 meetingSongdo,
Over the next three days, the 24 members of the Board will consider ten new project proposals. The project and programme proposals have a total project value of more than USD 2.7 billion, with requests for GCF funding totaling USD 787.8 million.
The Board will also work to select a new Executive Director of the GCF Secretariat.
The meeting takes place shortly after the Fund made an initial disbursement of USD 5 million to the Acumen Fund, one of the 33 entities that have been accredited to GCF to date. This was a capital contribution to establish the KawiSawi Ventures Fund in East Africa, marking it the first GCF project to receive a disbursement. The funds will be used to make investments in solar energy solutions in Rwanda and Kenya.