Catalyzing Climate Finance (Shandong Green Development Fund)

Catalyzing Climate Finance (Shandong Green Development Fund)

  • Status Approved
  • Date approved 14 Nov 2019 at B.24
  • Est. completion 01 Jul 2039
  • ESS Category Intermediation 1

Catalysing private finance to maximize mitigation and adaptation impacts.

Among China’s provinces, Shandong has the highest energy consumption and is one of the most carbon-intensive - driven by its high use of coal as an energy source for its large industrial base. Limited public finance makes it difficult to meet the province’s goals to green its economy.

This project will catalyse private finance by offering adequate returns thanks through the blending of public finance, concessional donor finance, and private finance. It will support investments that maximise mitigation and adaptation initiatives across several sectors, in line with Shandong’s mitigation and adaptation policies, while tapping co-financing 7.3 times GCF’s contribution.

Total project value


Tonnes of emissions avoided






Result areas

Project timeline


24 Apr 2018 - 570 days

Concept note received

24 Apr 2018

Funding proposal received

25 Jun 2018

Cleared by iTAP

20 Sep 2018


14 Nov 2019 - 237 days so far

Approved by GCF Board

14 Nov 2019

Under implementation


01 Jul 2039

One region

  • Asia-Pacific

One country

  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing

LoanUSD 100,000,000


Co-FinancingLoanUSD 100,000,000
Co-FinancingEquityUSD 626,000,000
Co-FinancingLoanUSD 83,986,562
Co-FinancingEquityUSD 375,000,000
Co-FinancingLoanUSD 111,982,082
Co-FinancingEquityUSD 15,000,000

GCF Contacts

General media inquiries

GCF Communications
Phone +82 10 4458 7751
Send e-mail

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

Asian Development Bank

Mr. Christian Ellermann
Climate Change Specialist

National Designated Authority


Ministry of Finance (MOF) and Ministry of Ecology and Environment (MEE)

Mr. Yucheng Zhang
Deputy Director, International Cooperation Division, Department of Climate Change, Ministry of Ecology and Environment
No. 45 Pingali West Street, Xicheng District, Beijing
Phone +86 10 66556188
Mr. Yingzhi Liu
Deputy Director, International Financial Institution Division III, Department of International Economic and Financial Cooperation, Ministry of Finance
No. 2 Sanlihe Nansanxiang, Xicheng District, Beijing, China
Phone +86 10 68552081