CRAFT - Catalytic Capital for First Private Investment Fund for Adaptation Technologies in Developing Countries

CRAFT - Catalytic Capital for First Private Investment Fund for Adaptation Technologies in Developing Countries

Climate change has and will continue to wreak wide-ranging damage on the environment and economy globally.  Up to USD 300 billion per year has been estimated for climate adaptation in developing countries by 2030, yet adaptation receives only 5% of all climate finance – and less than USD 500 million of private investment. As the first private sector investment fund for adaptation, CRAFT mobilizes capital to scale up technologies for climate resilience and adaptation and applies them in developing countries using a south-south technology transfer mechanism.

GCF’s commitment of up to USD 100 million in catalytic capital to CRAFT will allow the programme to scale up adaptation finance and accelerate development, application and transfer of private sector technologies in climate adaptation and resilience, particularly in the context of promoting green recovery from COVID-19.  Implemented with Pegasus Capital Advisors, the programme supports investment in six technologies (agricultural analytics, water harvesting and irrigation, food systems, geospatial mapping and imaging, catastrophe risk modeling, supply chain analytics) in six countries in Africa, Latin America and the Caribbean.

Total project value






Result areas

Project timeline


25 May 2020 - 501 days

Concept note received

25 May 2020

Funding proposal received

16 Mar 2021

Cleared by GCF Secretariat

19 Jul 2021

Legal opinion on AE's Internal Approval

11 Sep 2021

Cleared by iTAP

14 Sep 2021


07 Oct 2021 - 113 days

Approved by GCF Board

07 Oct 2021

FAA executed

31 Dec 2021

Under implementation

27 Jan 2022 - 369 days so far

FAA effective

27 Jan 2022

Disbursement - USD 20,000,000

22 Feb 2022


Two regions

  • Latin America and the Caribbean
  • Africa

Six countries

Three priority groups

  • Least Developed Countries
  • Small Island Developing States
  • African States
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing20% disbursed

EquityUSD 100,000,000
Total GCF Financing
USD 100,000,000


Co-FinancingEquityUSD 16,762,750
Co-FinancingEquityUSD 21,152,320
Co-FinancingEquityUSD 262,084,930
Total Co-Financing
USD 300,000,000

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

Pegasus Capital Advisors
Mr. Craig Cogut

Founder, Chairman & CEO
750 East Main Street, Suite 600 Stamford, Stamford, United States
Mr. Brian Friedman

General Counsel & Chief Compliance Officer
750 East Main Street, Suite 600 Stamford, Stamford, United States
More contacts

National Designated Authority

Secretariat for International Affairs, Ministry of Economy
Mr. Marco Aurélio dos Santos Rocha Primary
Secretary for International Economic Affairs
Esplanada dos Ministérios, Bloco K, 8° andar, Brasilia, Brazil
Phone +55 61 2020-4654
Ms. Raquel Breda dos Santos Secondary
General Coordinator for Global Development Institutions
Esplanada dos Ministérios, Bloco K, 8° andar - Sala 874, Brasilia, Brazil
Phone +55 (61) 2020-4603
Mr. Luiz Mauricio de Araújo Navarro Operational focal point
Coordinator for Policies and Funds for Development Finance
Esplanada dos Ministérios, Bloco K, 8° andar - Sala 874, Brasilia, Brazil
Phone +55 (61) 2020-4603
Ministry of Finance and Public Credit (SHCP), Unit for Public Credit
Ms. Laura Elisa Aguirre Téllez Primary
Director General, Unit for Public Credit and International Affairs, SHCP
Av. Insurgentes Sur 1971, Plaza Inn, Torre III, Piso 3, Col. Guadalupe Inn, Alcaldía Álvaro Obregón, Ciudad de México, Mexico
South Africa
Department of Forestry, Fisheries, and the Environment
Ms. Nomfundo Tshabalala Primary
Director General
Phone +27 12 339 9007
Ms. Shahkira Parker Operational focal point
Senior Policy Advisor: International Governance Management
Ms. Lucia Motloung Operational focal point
Mr. Zaheer Fakir Operational focal point
Rwanda Environment Management Authority
Mrs. Juliet Kabera Primary
Director General
Office of the Prime Minister
Mrs. Rochelle Newbold Primary
Special Advisor for Climate Change & Environmental Matters
Sir Cecil Wallace Whitfield Center, Nassau, Bahamas
Phone 1(242)702-5500
Dr. Rhianna Neely Secondary
Director, Department of Environmental Planning and Protection Ministry of Environment and Natural Resources
Phone 1(242)322-4546
Ms. Christine Thompson Secondary
Deputy Director Economics, Ministry of Finance
Phone 1(242)702-1586
Trinidad and Tobago
Ministry of Planning and Development
Ms Joanne Deoraj Primary
Permanent Secretary
Level 14, Eric Williams Finance Building, Independence Square, Port of Spain, Trinidad and Tobago