FP177
Cooling Facility
Cooling Facility
As global temperatures increase and the demand for cooling rises, so do the emission levels of greenhouse and fluorinated gases, which have a very high global warming potential. Reports cite that at 1.5°C of warming – a threshold that could be reached by 2030 - 2.3 billion people could be vulnerable to illness and death from heatwave events (Intergovernmental Panel on Climate Change, 2019) and productivity loss could be the equivalent of 80 million full-time jobs (International Labor Organization, 2019). Therefore low-carbon and sustainable cooling solutions are essential.
The Cooling Facility will be one of the world’s first cooling-focused facilities with the aim to provide cooling solutions in nine countries. It will focus on regulation and policy, technical assistance and financing to address and help remove barriers to the development of sustainable cooling investments. Planned measures include financing for investments in innovative, climate-friendly cooling technologies and systems, and creating an enabling environment by strengthening institutional, policy and regulatory frameworks and building capacity of key stakeholders in technologies, business models and cooling project appraisal and implementation.
Project timeline
Pipeline
17 Sep 2020 - 386 days
Funding proposal received
17 Sep 2020
Cleared by GCF Secretariat
16 Jul 2021
Cleared by iTAP
14 Sep 2021
Legal opinion on AE's Internal Approval
23 Sep 2021
Approved
07 Oct 2021 - 296 days
Approved by GCF Board
07 Oct 2021
FAA executed
15 Jul 2022
Under implementation
29 Jul 2022 - 306 days so far
FAA effective
29 Jul 2022
Completed
Four regions
- Asia-Pacific
- Latin America and the Caribbean
- Africa
- Eastern Europe
Nine countries
Three priority groups
- Least Developed Countries
- Small Island Developing States
- African States
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing
| Instrument | Amount |
|---|---|
| Grant | USD 32,000,000 |
| Loan | USD 29,000,000 |
| Loan | USD 96,000,000 |
| Total GCF Financing |
|---|
| USD 157,000,000 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Loan | USD 130,000,000 |
| Co-Financing | Loan | USD 27,400,000 |
| Co-Financing | Loan | USD 20,000,000 |
| Co-Financing | Loan | USD 86,000,000 |
| Co-Financing | Loan | USD 150,000,000 |
| Co-Financing | Guarantee | USD 50,000,000 |
| Co-Financing | Grant | USD 80,500,000 |
| Co-Financing | Grant | USD 25,000,000 |
| Co-Financing | Grant | USD 3,000,000 |
| Co-Financing | Grant | USD 940,000 |
| Co-Financing | Loan | USD 150,000,000 |
| Total Co-Financing |
|---|
| USD 722,840,000 |
GCF Contacts
General media inquiries
GCF CommunicationsPhone +82 32 4458 6338 (KST)
Send 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 6155 (KST)
Send e-mail
Accredited Entity
International Bank for Reconstruction and Development and International Development Association
Senior Carbon Finance Specialist
The World Bank 1818 H Street, NW MSN MC3-309 Washington DC 20433 USA, Washington, United States
More contacts
National Designated Authority
Economic Relations Division (ERD), Ministry of Finance
Secretary
Economic Relations Division (ERD), Ministry of Finance, Block No. 8, Room No. 3 & 4, Shere-e-Bangla Nagar, Dhaka 1207, Bangladesh, Dhaka, Bangladesh
Ministry of Environment and Natural Resources (MARN)
Minister of Environment and Natural Resources
Kilómetro 5 ½ Carretera a Santa Tecla, Col. Las Mercedes, Frente a Círculo Miliar, Edificios MARN, San Salvador, El Salvador
Director of International Cooperation and Climate Change
Kilómetro 5 ½ Carretera a Santa Tecla, Col. Las Mercedes, Frente a Círculo Miliar, Edificios MARN, San Salvador, El Salvador
The National Treasury
Principal Secretary
Treasury Building 12th Floor, Harambee Avenue, Nairobi, Kenya
Ag. Head, Climate Finance & Green Economy Unit
Cabinet of the Deputy President of the Government in Charge for Economic Affairs and Coordination of Economic Sectors
Deputy Prime Minister in Charge of Economic Affairs, Coordination of Economic Sectors and Investments
Bul Ilinden nr.2, 1000 Skopje, North Macedonia
Advisor for sustainable development to the Deputy President of the Government of Republic of North Macedonia in charge of economic affairs, coordination of economic departments and investments
Bul Ilinden 2, Skopje, North Macedonia
State Counselor on Climate Change, Ministry of environment and physical planning
Environmental Affairs Department
Director
Environmental Affairs Department Private Bag 394 Lilongwe 3, Malawi, Lilongwe, Malawi
Environmental Affairs Department Lilongwe 3, Malawi., Lilongwe, Malawi
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 Planning, Finance and Blue Economy
Ministry of Environment and Climate Change
Minister
Villa Somalia, Mogadishu, Somalia
Technical Focal Point
Villa Somalia, Mogadishu, Somalia
Senior Principle
Villa Somalia, Moghadishu, Somalia
Climate Change Specialist
Villa Somalia, Mogadishu, Somalia
Ministry of Environment
Secretary
No. 416/C/1, "Sobadam Piyasa" Robert Gunawardana Mawatha, Battaramulla, Sri Lanka
Director, Climate Change Secretariat
Sobadam Piyasa, No. 416/C/1, robert Gunawardana Mawatha, Battaramulla, Sri Lanka
Documents
| Title | Type | Date |
|---|---|---|
| Cooling Facility | Approved funding proposal | 23 Nov 2021 |
| Cooling facility | Case study | 26 Oct 2021 |
| Environmental and social safeguards (ESS) report for FP177: Cooling Facility | Environmental and Social Safeguards report | 14 Sep 2021 |
| Gender action plan for FP177: Cooling Facility | Gender action plan | 14 Sep 2021 |
| Gender assessment for FP177: Cooling Facility | Gender assessment | 14 Sep 2021 |