Catalyzing Climate Finance (Shandong Green Development Fund)

Catalyzing Climate Finance (Shandong Green Development Fund)

  • Status Under implementation
  • Date approved 14 Nov 2019 at B.24
  • Est. completion 04 Apr 2042
  • 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 to 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 - 873 days

Approved by GCF Board

14 Nov 2019

Legal opinion on AE's Internal Approval

05 Nov 2020

FAA executed

28 Oct 2021

Under implementation

04 Apr 2022 - 835 days so far

FAA effective

04 Apr 2022

Disbursement - USD 28,000,000

23 Sep 2022

Disbursement - USD 20,000,000

23 Apr 2024

To be completed

04 Apr 2042 - 6,472 days to go

One region

  • Asia-Pacific

One country

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

GCF financing48% disbursed

LoanUSD 100,000,000
Total GCF Financing
USD 100,000,000


Co-FinancingLoanUSD 100,000,000
Co-FinancingEquityUSD 626,000,000
Co-FinancingLoanUSD 80,385,852
Co-FinancingEquityUSD 375,000,000
Co-FinancingLoanUSD 107,181,136
Co-FinancingEquityUSD 15,000,000
Total Co-Financing
USD 1,303,566,988

GCF Contacts

General media inquiries

GCF Communications
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GCF Information Disclosure
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Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6186 (KST)
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6714 (KST)
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Accredited Entity

Asian Development Bank
Mr. Christian Ellermann

Senior Climate Change Specialist
More contacts

National Designated Authority

Ministry of Finance (MOF) and Ministry of Ecology and Environment (MEE)
Mr. Yingzhi LIU Primary
Senior Advisor International Financial Institution Division I Department of International Economic and Financial Cooperation, Ministry of Finance
No.3 Sanlihe Nansanxiang, Xicheng District, Beijing, China
Phone +86-10-68552079
Ms. Wei YAO Primary
Deputy Director International Policies and Negotiations Division Department of Climate Change, Ministry of Ecology and Environment
No.12 East Chang' an Avenue, Dongcheng District, Beijing, China
Phone +86-10-65645643