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 - 619 days so far

Approved by GCF Board

14 Nov 2019

Legal opinion on AE's Internal Approval

05 Nov 2020

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
Total GCF Financing
USD 100,000,000


Co-FinancingLoanUSD 100,000,000
Co-FinancingEquityUSD 626,000,000
Co-FinancingLoanUSD 91,463,414
Co-FinancingEquityUSD 375,000,000
Co-FinancingLoanUSD 121,951,219
Co-FinancingEquityUSD 15,000,000
Total Co-Financing
USD 1,329,414,634

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 6485 (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
Climate Change Specialist
More contacts

National Designated Authority

Ministry of Finance (MOF) and Ministry of Ecology and Environment (MEE)
Ms. Yan Ren
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
Mr. Zhihua Chen
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