FP173

The Amazon Bioeconomy Fund: Unlocking private capital by valuing bioeconomy products and services with climate mitigation and adaptation results in the Amazon

The Amazon Bioeconomy Fund: Unlocking private capital by valuing bioeconomy products and services with climate mitigation and adaptation results in the Amazon

  • Status Under implementation
  • Date approved 07 Oct 2021 at B.30
  • Est. completion 28 Sep 2029
  • ESS Category Intermediation 2

Home to the world’s largest tropical forest, the Amazon is highly vulnerable to climate change.  The combination of increased temperatures and deforestation are creating adverse climate feedback loops.  Increasingly warmer and drier conditions will further result in forest degradation and loss of ecological functions, ultimately bringing the Amazon forests to the point of no return.  Known as the tipping point, there may come a time when the forests die and are replaced by dry savannah-like landscapes.  This would have grave consequences on biodiversity, agriculture, human health and livelihood, and would also affect the Amazon’s key role in absorbing and storing the world’s carbon.   

GCF's new Amazon Bioeconomy Fund in six Amazon countries will deliver sustainable solutions to reduce the impacts of climate change in the Amazon biome by prioritizing natural capital and delivering climate benefits. The USD 600 million programme will include an investment of USD 279 million from GCF, and will be implemented with the Inter-American Development Bank. It will encourage private investment in six key areas of the bioeconomy: sustainable agroforestry, native palm cultivation, non-timber natural forest products, growing native species timber, aquaculture, and community-led nature tourism.

Total project value

 

Tonnes of emissions avoided

 

Beneficiaries

 

Direct
191,952
Indirect
485,375
Theme

Cross-cutting

Result areas

Project timeline

Pipeline

28 Sep 2020 - 375 days

Concept note received

28 Sep 2020

Funding proposal received

01 Apr 2021

Cleared by GCF Secretariat

16 Jul 2021

Approved

07 Oct 2021 - 357 days

Approved by GCF Board

07 Oct 2021

Cleared by iTAP

07 Oct 2021

Legal opinion on AE's Internal Approval

03 Feb 2022

FAA executed

02 Aug 2022

Under implementation

28 Sep 2022 - 568 days so far

FAA effective

28 Sep 2022

Disbursement - USD 26,250,000

28 Feb 2023

To be completed

28 Sep 2029 - 1,990 days to go

One region

  • Latin America and the Caribbean

Six countries

One priority group

  • Small Island Developing States
USD  
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing9% disbursed

InstrumentAmount
LoanUSD 135,000,000
EquityUSD 6,500,000
GrantUSD 87,500,000
GrantUSD 20,000,000
GrantUSD 30,000,000
Total GCF Financing
USD 279,000,000

Co-financing

Co-financerInstrumentAmount
Co-FinancingLoanUSD 155,000,000
Co-FinancingGuaranteeUSD 145,000,000
Co-FinancingEquityUSD 4,000,000
Co-FinancingGrantUSD 14,000,000
Co-FinancingIn-kindUSD 1,100,000
Total Co-Financing
USD 319,100,000

GCF Contacts

General media inquiries

GCF Communications
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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 6714 (KST)
Send e-mail

Accredited Entity

Inter-American Development Bank
Ms. Victoria Eugenia Florez Toro
Primary

Chief, Resource Mobilization Division
Ms. Gloria Visconti
Secondary

Lead Climate Change Specialist
1300 New York Avenue NW, Washington, D.C., United States
Phone + 1 (202) 623-1924
gloriav@iadb.org
More contacts

National Designated Authority

Brazil
Secretariat for International Affairs, Ministry of Finance
Ms. Tatiana Rosito Primary
Secretary for International Affairs
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
Phone +55 (61) 3412-2202
and.gcf@economia.gov.br
Mr. Ivan Tiago Machado Oliveira Secondary
Deputy Secretary for Sustainable Development Finance
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
Phone +556131422202
and.gcf@economia.gov.br
Ms. Livia Farias Ferreira de Oliveira Operational focal point
General Coordinator for Sustainable Finance
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
Phone +55 (61) 33412-1702
livia.oliveira@fazenda.gov.br
Colombia
National Planning Department
Ms. Carolina Díaz Primary
Director of Environment and Sustainable Development
Calle 26 No. 13-19, Bogotá, D.C, Colombia
Ms. Jimena Cortés Secondary
NDA Technical Advisor
Calle 26 # 13 - 19, Bogotá, D.C., Colombia
Phone +57 601 3815000
clcortes@dnp.gov.co
Ecuador
Ministry of Environment, Water and Ecological Transition
Mr. Ángel Sandoval Primary
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
Guyana
Office of the Vice President
Honourable Dr. Bharrat Jagdeo Primary
Vice President, Co-operative Republic of Guyana
Shiv Chanderpaul Drive, Bourda,, Georgetown, Guyana
Phone +592-227-3101
vpguy2020@gmail.com
Mr. Andrew Bishop Secondary
Lead Climate Change Negotiator, Office of the President, Department of Environment and Climate Change
Ms. Pradeepa Bholanauth Secondary
Senior Director for Climate and REDD+, Ministry of Natural Resources
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
Suriname
Ministry of Spatial Planning and Environment
His Excellency Mr. Marciano Dasai Primary
Minister
Prins Hendrikstraat #22, Paramaribo, Suriname
Phone +597 522020
secmin@rom.gov.sr
Mr. Ritesh Sardjoe Secondary
Permanent Secretary for Environment
Ms. Vanuessa Gefferie Secondary
Permanent Secretary for General and Financial Affairs