GCF Board meeting to be held next week
The thirty-fifth meeting of the GCF Board is set to get underway in Songdo, Incheon, Republic of Korea from March 13 to 16.
The meeting is the first to be held under the direction of the Board’s new Co-Chairs Nauman Bashir Bhatti of Pakistan and Victoria Gunderson of the United States, as well as the first of 2023.
Seven project funding proposals will be put to the Board for approval. These include projects in Cambodia, Lao People’s Democratic Republic, the Philippines, Bolivia, Colombia as well as renewable energy and climate resilient infrastructure projects spanning multiple countries.
In all, over USD 587 million in climate finance proposals will be under consideration at the meeting.
The Board will also consider the selection of a new Executive Director. The current Executive Director, Yannick Glemarec, reaches the end of his four-year term in April and this will be his last Board meeting. The Co-Chairs will host a reception during the meeting to thank him for his service to GCF.
Other items on the agenda include reports on the status of the Fund’s resources and upcoming pipeline along with updates on the development of GCF’s 2024-2027 Strategic Plan and the final report of the Independent Evaluation Unit’s performance review of GCF. The selection of the Heads of the Independent Integrity Unit, and of the Independent Redress Mechanism will also be considered by the Board.
The agenda will also include an update on the Fund’s second replenishment by Dr Mahmoud Mohieldin, appointed as the Fund’s replenishment Facilitator.
Full details of the meeting’s agenda can be found on the GCF website.
GCF Board members and their alternates are drawn equally from developed and developing countries. See the Boardroom section of the GCF website to find out more about the Board’s composition and to follow the proceedings via the live stream. Updates will also be posted on GCF social media channels.