FP082

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 Under revision
  • 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

 

Beneficiaries

 

Direct
7,500,000
Indirect
15,000,000
Theme

Cross-cutting

Result areas

Project timeline

Pipeline

24 Apr 2018 - 570 days

Concept note received

24 Apr 2018

Funding proposal received

25 Jun 2018

Cleared by iTAP

20 Sep 2018

Approved

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 - 134 days so far

FAA effective

04 Apr 2022

Completed

Est. completion date under revision

One region

  • Asia-Pacific

One country

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

GCF financing

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

Co-financing

Co-financerInstrumentAmount
Co-FinancingLoanUSD 100,000,000
Co-FinancingEquityUSD 626,000,000
Co-FinancingLoanUSD 76,064,908
Co-FinancingEquityUSD 375,000,000
Co-FinancingLoanUSD 101,419,878
Co-FinancingEquityUSD 15,000,000
Total Co-Financing
USD 1,293,484,787

GCF Contacts

General media inquiries

GCF Communications
Phone +82 32 4458 6338 (KST)
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 6186 (KST)
File a complaint

Integrity issues

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

Accredited Entity

Asian Development Bank
Mr. Christian Ellermann
Primary

Senior Climate Change Specialist
More contacts

National Designated Authority

China
Ministry of Finance (MOF) and Ministry of Ecology and Environment (MEE)
Ms. Yan Ren Primary
Senior Staff, 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 68552471
ifid1gcf@mof.gov.cn
Mr. Zhihua Chen Primary
Director, International Cooperation and Exchange Division, Department of Climate Change, Ministry of Ecology and Environment
No.12 East Chang'an Avenue, Dongcheng District, Beijing, China
Phone +86 10 65645652
chenndrc@yahoo.com

Documents