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 - 368 days so far
FAA effective
29 Sep 2022
Disbursement - USD 1,177,860
07 Aug 2023
Completed
-
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 CommunicationsPhone +82 32 4458 6338 (KST)
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Request for information
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Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
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Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6155 (KST)
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Accredited Entity

Corporación Andina de Fomento
Executive Principal, Vice-presidency Sustainable Development
Edificio Via Esplanada, sala 201, SAF/Asa Sul, Quadra 02. Bloco D, CEP 700700-600, Brasilia, Brazil
Executive Principal, Vice-presidency Sustainable Development
Boulevard Pacifica P.H. Oceania Business Plaza, Torre 2000 Piso 24, Postal Code:0832, Panama City, Panama
More contacts
National Designated Authority
Ministry of Finance
Undersecretary
Teatinos 120, Santiago, Chile
Head of the Public Debt Office
Teatinos 120, Santiago, Chile
Ministry of Environment and Water
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
Ministry of Environment
Minister of Environment
Building 804, Albrook, Panama
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
Operational Focal Point, Director of Climate Change of the Ministry of Environment
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 |
---|---|---|
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 |