GCF advances 10 newly approved climate projects towards implementation

A record round of climate projects approved at the Green Climate Fund’s 46^th Board meeting (B.46) moved a step closer to implementation with the signing of project agreements for ten new projects.

The agreements were signed with GCF’s Accredited Entity partners on 29 October 2026 on the sidelines of B.46 in Songdo, Republic of Korea. At B.46, the GCF Board approved USD 1.97 billion, which includes 21 new projects, the largest amount approved at a single Board meeting, bringing total GCF commitments for climate finance to a record USD 3.3 billion in 2026.

The signing of the ten project agreements on the closing day of the Board meeting moves the projects from approval towards implementation, continuing GCF’s efforts to shorten the journey from Board decision to climate action on the ground. At the previous Board meeting, B.45, seven project agreements were signed as the meeting concluded.

For one project, the transition was even more immediate. A project in Mexico became effective following the signing of its project agreement, a subsidiary agreement between the Accredited Entity and the Executing Partner, and the notice of project effectiveness. Its first disbursement was made within three working days of the project agreement becoming effective, due to advance preparation and close collaboration among the partners.

Together, the ten projects will support climate action across Africa, Asia and the Pacific, Central Asia, Latin America and the Caribbean, with investments spanning resilient agriculture, forests and landscapes, water security, marine and coastal ecosystems, and locally led adaptation.

Several mark important milestones for GCF and its partners. They include GCF’s first investment in Algeria, supporting climate resilience across the steppe and dry forest areas of the country’s Green Dam; the first single-country GCF project in Cameroon; a project with Ethiopia’s Ministry of Finance to strengthen the climate resilience of vulnerable households nationwide, and a project in Mexico that is the first to operationalise GCF’s REDD+ Results-Based Payments policy.

Elsewhere, new investments will help protect Fiji’s Great Sea Reef; strengthen the resilience of coastal communities and marine protected areas in Indonesia; improve water security in Bogotá and surrounding communities in Colombia; strengthen sovereign climate investment in Angola, Benin, Côte d’Ivoire and Nigeria; and restore landscapes and support climate-resilient development in Kyrgyzstan, Tajikistan and Uzbekistan.

The Climate Actions for Building Resilience in Coastal Communities (CABRIC) programme is the first multi-country GCF adaptation programme to be implemented by the Caribbean Community Climate Change Centre (CCCCC), supporting vulnerable coastal communities in the Bahamas, Belize, Grenada, Jamaica and Saint Lucia.

Signing the agreements as B.46 concludes provides early momentum for these investments, moving them beyond Board approval and towards delivery with GCF’s Accredited Entity and country partners.

The ten signed projects are:

• SAP073: Building Climate Change Resilience of Vulnerable Households in Selected Localities of Ethiopia, with the Federal Democratic Republic of Ethiopia, acting through the Ministry of Finance. The project will build resilience in seven districts through solar-powered water access, climate-smart agriculture, watershed restoration and diversified livelihoods.
• FP310: Improving Climate Resilience in the Steppe and Dry Forest Areas of the Algerian Green Dam, with the Food and Agriculture Organization of the United Nations (FAO). GCF’s first investment in Algeria will build on the country’s Green Dam initiative, strengthening landscape management and the resilience of pastoral communities.
• FP312: Securing Permanent Forests to Combat Climate Change and Enhance Sustainable National and Local Economies in Cameroon, with the International Union for Conservation of Nature and Natural Resources (IUCN). The project will support climate-smart forest management, land restoration and sustainable non-timber forest product value chains.
• FP313: Africa Sovereign Climate Facility, with Africa Finance Corporation (AFC). The facility will strengthen sovereign climate investment and finance climate-resilient, low-emission projects in Angola, Benin, Côte d’Ivoire and Nigeria.
• FP316: Fiji Coral Reef Resilience Project, with World Wildlife Fund, Inc. (WWF). The project will protect Fiji’s Great Sea Reef and strengthen coastal resilience through ecosystem-based adaptation, nature-based solutions and support for reef-positive businesses.
• FP317: Blue Halo S – Blue Ecosystem Adaptation Mechanism (BEAM), with Conservation International Foundation (CI). The project will expand support for marine protected areas and strengthen the climate resilience of coastal communities in Indonesia.
• FP322: Climate-resilient Landscapes in Central Asia, with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. The project will combine landscape restoration with climate-resilient and low-emission agriculture, forestry and land use in Kyrgyzstan, Tajikistan and Uzbekistan.
• FP323: Building Water Resilience in Bogotá and the Region, with Conservation International Foundation (CI). The project will invest in the high-Andean ecosystems that regulate the region’s water supply, supporting conservation and improved management across more than 28,000 hectares.
• FP324: GCF Results-Based Payments Mexico 2018–2019 aimed at Forest Conservation and Sustainable Livestock, with the Food and Agriculture Organization of the United Nations (FAO). The project recognises Mexico’s achievement of 12.9 MtCO₂eq in verified REDD+ results and will reinvest the proceeds in forest conservation and more sustainable livestock production.
• FP325: Climate Actions for Building Resilience in Coastal Communities (CABRIC) in the Caribbean, with the Caribbean Community Climate Change Centre (CCCCC). The programme will address barriers to locally led coastal adaptation in the Bahamas, Belize, Grenada, Jamaica and Saint Lucia.