FP149

Green Climate Financing Facility for Local Financial Institutions in Latin-America

Green Climate Financing Facility for Local Financial Institutions in Latin-America

The energy and land use sectors are responsible for the majority of greenhouse gas emissions in many Latin American countries. It is estimated that approximately 40% of GHG emissions are from the agriculture, forestry and other land use sectors. Emissions from the energy sector vary substantially from country to country, yet the region’s reliance on fossil fuels and growing energy needs imply that without the adoption of clean energy technologies, the sector will continue to contribute to increasing GHG emissions in the region. Investments in renewable and energy efficient technologies, along with sustainable land use practices have been identified as effective investments for climate change mitigation, yet their adoption is limited due to the lack of finance from local financial institutions (LFIs). 

The core objective of the Programme is to reduce GHG emissions in Latin America by 10.7 million tonnes of carbon dioxide equivalent (MtCO₂eq) in emissions, through locally financed and developed climate change projects for MSMEs in the renewable energy, energy efficiency and land use sectors. The Programme will provide LFIs with access to a green finance credit line. It will also implement four grant-funded sub-components with a focus on education, awareness raising and technical support. This includes matchmaking between LFIs, technology service providers, and solution providers (e.g., MSMEs and farmers), performance-based payments for solution providers, technical support and capacity building, and monitoring and reporting.  

Total project value

 

Tonnes of emissions avoided

 

Theme

Mitigation

Result areas

Project timeline

Pipeline

11 Mar 2017 - 1344 days

Concept note received

11 Mar 2017

Funding proposal received

19 Jul 2018

Cleared by GCF Secretariat

29 Nov 2018

Cleared by iTAP

19 Oct 2020

Approved

13 Nov 2020 - 66 days so far

Approved by GCF Board

13 Nov 2020

Under implementation

Completed

One region

  • Latin America and the Caribbean

Four countries

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

GCF financing

InstrumentAmount
LoanUSD 95,000,000
GrantUSD 5,000,000

Cofinancing

CofinancerInstrumentAmount
Co-FinancingLoanUSD 50,000,000
Co-FinancingGrantUSD 200,000

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
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Accredited Entity

Corporación Andina de Fomento

Ms. Maria Moreno
Principal Executive, Sustainability, Social Inclusion and Climate Change
Phone +507 297 5317
mmoreno@caf.com
Mr. Edgar Salinas
Principal executive, sustainability, social inclusion and climate change
Avda Luis Roche Torre CAF, Caracas, Venezuela (Bolivarian Republic of)
Phone +55 (61) 2191 8624
esalinas@caf.com

National Designated Authority

Chile

Ministry of Finance

Mr. Alejandro Weber Pérez
Undersecretary of Finance
Teatinos 120, Santiago, Chile
Phone +56 2 2828 2007
aweber@hacienda.gov.cl
Ms. Trinidad Lecaros Cox
Focal Point Green Climate Fund
Teatinos 120, Santiago, Chile
Phone +56 2 2828 2232
tlecaros@hacienda.gov.cl
Ecuador

Ministry of Environment and Water

Mr. Humberto David Re Carrera
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
Panama

Ministry of Environment

His Excellency Milciades Concepción
Minister of Environment
Building 804, Albrook, Panama
Mr. Gustavo Padilla C.
Head of the International Coordination Office
Building 804, Albrook,, Panama
Phone (+ 507) 500-0803
gpadilla@miambiente.gob.pa
Peru

Ministry of Economy and Finance

Mr. Carlos Enrique Gallardo Torres
General Directorate of International Economic Affairs, Competition and Productivity
Jr. Lampa N° 277 - Cercado de Lima, Lima-Perú, Lima, Peru