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.
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 - 807 days so far
FAA effective
29 Sep 2022
Disbursement - USD 1,177,860
07 Aug 2023
To be completed
29 Sep 2027 - 1,021 days to go
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing1% disbursed
Instrument | Amount |
---|---|
Loan | USD 95,000,000 |
Grant | USD 5,000,000 |
Total GCF Financing |
---|
USD 100,000,000 |
Co-financing
Co-financer | Instrument | Amount |
---|---|---|
Co-Financing | Loan | USD 50,000,000 |
Co-Financing | Grant | USD 200,000 |
Total Co-Financing |
---|
USD 50,200,000 |
GCF Contacts
General media inquiries
GCF CommunicationsSend e-mail
Request for information
GCF Information DisclosureRequest 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 6714 (KST)
Send e-mail
Entity
Corporación Andina de Fomento
Climate Action and Positive Biodiversity, Director
Ciudadela 1235, Montevideo, Uruguay
Climate Action and Positive Biodiversity, Principal Executive
Carrera 9 No 76-49, Edificio ING, piso 7, Bogotá, Colombia
More contacts
National Designated Authority
Ministry of Finance
Undersecretary of Finance
Teatinos 120, Santiago, Chile
Senior Advisor, Financial and International Affairs
Teatinos 120, Santiago, Chile
Ministry of Environment, Water and Ecological Transition
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
Ministry of Environment
Climate Change Director
Diego Dominguez Street, Building 804 Albrook, Ancón, Panama City, Panama
Head of International Technical Cooperation Office
Diego Dominguez Street, Building 804 Albrook, Ancón, Panama City, Panama
Ministry of Economy and Finance
General Director, General Directorate of International Economic Affairs, Competition and Productivity
Jr. Lampa N° 277 - Cercado de Lima,, Lima, Peru
Documents
Title | Type | Date |
---|---|---|
2023 Annual Performance Report for FP149: Green Climate Financing Facility for Local Financial Institutions in Latin-America | Annual Performance Report | 16 Jul 2024 |
2022 Annual Performance Report for FP149: Green Climate Financing Facility for Local Financial Institutions in Latin-America | Annual Performance Report | 11 Oct 2023 |
Green Climate Financing Facility for Local Financial Institutions in Latin-America | Approved funding proposal | 09 Dec 2020 |
Gender action plan for FP149: Green Climate Financing Facility for Local Financial Institutions in Latin-America | Gender action plan | 19 Nov 2020 |
Gender assessment for FP149: Green Climate Financing Facility for Local Financial Institutions in Latin-America | Gender assessment | 19 Nov 2020 |
Environmental and social safeguards (ESS) report for FP149: Green Climate Financing Facility for LFIs in Latin-America | Environmental and Social Safeguards report | 07 Oct 2020 |