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 - 686 days

Approved by GCF Board

13 Nov 2020

Legal opinion on AE's Internal Approval

09 Jul 2021

FAA executed

01 Jul 2022

Under implementation

29 Sep 2022 - 68 days so far

FAA effective

29 Sep 2022

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
Total GCF Financing
USD 100,000,000

Co-financing

Co-financerInstrumentAmount
Co-FinancingLoanUSD 50,000,000
Co-FinancingGrantUSD 200,000
Total Co-Financing
USD 50,200,000

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

Corporación Andina de Fomento
Mr. Edgar Salinas
Primary

Executive Principal, Vice-presidency Sustainable Development
Edificio Via Esplanada, sala 201, SAF/Asa Sul, Quadra 02. Bloco D, CEP 700700-600, Brasilia, Brazil
Phone +55 (61) 2191-8624
esalinas@caf.com
Mr. Oscar Guevara
Secondary

Executive Principal, Vice-presidency Sustainable Development
Boulevard Pacifica P.H. Oceania Business Plaza, Torre 2000 Piso 24, Postal Code:0832, Panama City, Panama
Phone +507 297 5378
oguevara@caf.com
More contacts

National Designated Authority

Chile
Ministry of Finance
Ms. Claudia Sanhueza Primary
Undersecretary
Teatinos 120, Santiago, Chile
Phone +56 2 28282007
csanhueza@hacienda.gov.cl
Mr. Joaquin Guajardo Beroiza Secondary
Focal Point Green Climate Fund
Teatinos 120 Santiago, Chile
Phone + (56) 2 28282312
jguajardo@hacienda.gov.cl
Ecuador
Ministry of Environment and Water
Ms. Karina Maribel Barrera Moncayo Primary
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
Panama
Ministry of Environment
His Excellency Milciades Concepción Primary
Minister of Environment
Building 804, Albrook, Panama
Mr. Bolivar Cañizales Secondary
Deputy Operational Focal Point, Head of the Department of Environment and Climate Change, Directorate of International Organizations and Conferences of the Ministry of Foreign Affairs
Phone (507) 511-4256
bcanizales@mire.gob.pa
Ms. Ligia Castro de Doens Operational focal point
Operational Focal Point, Director of Climate Change of the Ministry of Environment
Phone (507) 500-0855
lcastrod@miambiente.gob.pa
Peru
Ministry of Economy and Finance
Mr. Jose Alfredo La Rosa Basurco Primary
General Director, General Directorate of International Economic Affairs, Competition and Productivity
Jr. Lampa N° 277 - Cercado de Lima,, Lima, Peru
Phone +(511) 311 5930
jlarosa@mef.gob.pe