Sustainable Landscapes in Eastern Madagascar

Sustainable Landscapes in Eastern Madagascar

Sustainable landscape measures to enhance resilience of smallholders, reducing GHG emissions and channelling private finance into climate-smart investments in agriculture and renewable energy.

Madagascar is one of the most vulnerable countries to climate change in the world, with large numbers of smallholding farmers. There is a high level of food insecurity, precarity, and vulnerability to climate change. The landscape is dominated by natural forest, but deforestation is a source of GHG emissions and degradation of ecosystem services.

The project model is to initially address smallholder vulnerability through non-profit activities, that will prepare the smallholding farmers to eventually access private sector investment, providing a pathway out of extreme vulnerability and dependency. This approach is aimed at overcoming the barriers to private sector investment. Funds will be leveraged through the issuing of a pioneering Green / Climate Bond with all returns and profits being re-invested to capitalise a Climate Change Trust Fund for Madagascar. This will enable continued investment in landscape-level adaptation and mitigation activities.

The project has an estimated lifespan of 10 years.

Total project value


Tonnes of emissions avoided






Result areas

Project timeline


20 Mar 2016 - 209 days

Funding proposal received

20 Mar 2016

Cleared by iTAP

30 Sep 2016


14 Oct 2016 - 1,320 days so far

Approved by GCF Board

14 Oct 2016

Legal opinion on AE's Internal Approval

20 Sep 2017

Disbursement - USD 800,000

31 Jul 2018

Annual Performance Report

27 Feb 2019

Disbursement - USD 1,600,000

15 Apr 2019

Disbursement - USD 1,700,000

07 Nov 2019

Disbursement - USD 1,900,000

17 Mar 2020

Under implementation


One region

  • Africa

One country

Two priority groups

  • Least Developed Countries
  • African States
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing9% disbursed

EquityUSD 35,000,000
GrantUSD 18,500,000


Co-FinancingLoanUSD 10,000,000
Co-FinancingLoanUSD 5,000,000
Co-FinancingEquityUSD 500,000
Co-FinancingGrantUSD 800,000

GCF Contacts

General media inquiries

GCF Communications
Phone +82 10 4458 7751
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Request for information

GCF Information Disclosure
Request information about this project

Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6157
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6155
Send e-mail

Accredited Entity

European Investment Bank

Ms. Maria Esther Badiola Guerra
Green Climate Fund Operations Officer (for pipeline issues)
Phone +352-437982661

National Designated Authority


Ministry of Environment, Ecology, Sea and Forests

Ms. Lovakanto Ravelomanana
Director of the National Office for Climate Change Coordination
B.P 3948, Rue Toto Radola - Antsahavola, Antananarivo, Madagascar

News + Stories

Forests: A cause of climate concern, and hope

15 Aug 2018 / You don’t know what you’ve got until it’s gone.