FP223
Project GAIA ("GAIA")
Project GAIA ("GAIA")
In the past two decades, there has been an 83 per cent global increase in the frequency of major climate-related disasters, such as floods, droughts, heatwaves, and violent maritime weather. Low- and middle-income economies bear the heaviest burden related to these events. Yet climate adaptation investments in the most vulnerable, least prepared states are often too few and too far between to meet their adaptation needs. The estimated annual cost of adaptation in these countries is expected to reach as much as 500 billion per year in 2050. To meet the adaptation needs of the most vulnerable countries, public and private financiers have to work together in investment partnerships. This is the driving force behind Project GAIA.
Project GAIA will establish a blended finance platform that offers long-term loans for climate adaptation and mitigation investments in 19 of the most climate vulnerable countries in the world - making funding accessible through sources previously unattainable to participating countries. To answer to the immediate needs of developing countries, the platform allocates 70 per cent of its portfolio investments towards adaptation projects; with a further allocation of 25 per cent for Least Developed Countries and Small Island Developing States, ensuring that funding reaches the most climate vulnerable communities. The project targets countries facing similar challenges in accessing climate finance for their pipeline of high-impact adaptation projects.
Project timeline
Pipeline
21 Feb 2022 • 612 days
Concept note received
21 Feb 2022
Funding proposal received
16 Jun 2022
Legal opinion on AE's Internal Approval
26 Oct 2022
Cleared by GCF Secretariat
08 Dec 2022
Cleared by iTAP
02 Oct 2023
Approved
25 Oct 2023 • 727 days
Approved by GCF Board
25 Oct 2023
FAA executed
03 Jul 2025
Under implementation
20 Oct 2025 • 47 days so far
FAA effective
20 Oct 2025
To be completed
20 Oct 2055 • 10,911 days to go
Three regions
- Africa
- Asia-Pacific
- Latin America and the Caribbean
Nineteen countries
- Benin
- Ghana
- Côte d'Ivoire
- Mauritius
- Morocco
- Togo
- Indonesia
- Mongolia
- Philippines (the)
- Barbados
- Costa Rica
- Dominican Republic (the)
- Guatemala
- Jamaica
- Panama
- Peru
- Kenya
- Tanzania
- India
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 |
|---|---|
| Equity | USD 152,500,000 |
| Total GCF Financing |
|---|
| USD 152,500,000 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Loan | USD 295,000,000 |
| Co-Financing | Loan | USD 75,000,000 |
| Co-Financing | Loan | USD 25,000,000 |
| Co-Financing | Equity | USD 70,000,000 |
| Co-Financing | Loan | USD 775,000,000 |
| Co-Financing | Equity | USD 65,000,000 |
| Co-Financing | Equity | USD 25,000,000 |
| Total Co-Financing |
|---|
| USD 1,330,000,000 |
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
MUFG Bank, Ltd
Director
Ropemaker Place, 25 Ropemaker Street, London, United Kingdom
Vice President
1-4-1, Marunouchi, Chiyoda-ku,, Tokyo, Japan
More contacts
National Designated Authority
Ministry of Living Environment and Transport in charge of Sustainable Development
Director General, Directorate of Environment and Climate Change
Ministry of Finance
Director, Real Sector Division
P.O.Box MB40, Ministries, Accra, Ghana
Head. Climate, ESG and EITI Unit, Real Sector Division
P.O.Box MB40, Ministries, Accra, Ghana
Phone +233244152226
aquansah@mofep.gov.gh
romensah@mofep.gov.gh
jsmith@mofep.gov.gh
fgyamfi@mofep.gov.gh
aasante@mofep.gov.gh
Minister's Office, Ministry of Environment and Sustainable Development
Public Policy, Climate Change and Ecological Transition Expert / Technical Advisor to the Minister in charge of International Cooperation and Resource Mobilization
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Abidjan, Cote d'Ivoire
Deputy Director of Climate Change
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Cote d'Ivoire
Ministry of Finance and Economic Development
Financial Secretary, Ministry of Finance
Lead Analyst, Resource Mobilisation Cluster
Ministry of Energy Transition and Sustainable Development- Department of Sustainable Development
Director of Climate and Biodiversity
Directorate of Environment, Ministry of Environment
Director of Environment
240 rue des Nîmes Lomé - Togo -, Lomé, Togo
Environmentalist, head of planning unit
240 rue des Nîmes Lomé - Togo, Lomé, Togo
Directorate General of Financial Sector Stability and Development, Ministry of Finance.
Director General of Financial Sector Stability and Development
Radius Prawiro Building, 6th Floor, Jalan Dr. Wahidin Raya No. 1, Central Jakarta
Director of Multilateral Cooperation and Sustainable Finance, Directorate General of Financial Sector Stability and Development (Head of Indonesia NDA GCF Secretariat)
Radius Prawiro Building, 6th Floor, Jalan Dr. Wahidin Raya No. 1, Jakarta, Indonesia
Ministry of Environment and Climate Change
Advisor to the Minister of the Environment and Climate Change
Government Building II, United Nations Street-5/2, Chingeltei District 4th Khoroo, Ulaabaatar, Mongolia
Senior Analyst, International Cooperation Division, Policy Planning Department, Ministry of Environment and Climate Change
Government Building II, United Nations Street-5/2, Chingeltei District 4th Khoroo,, Ulaabaatar, Mongolia
Department of Finance
Undersecretary, International Finance Group
Ministry of Economic Affairs and Investment
Minister
3rd Floor East, Warrens Office Complex Warrens, St. Michael, Barbados
Permanent Secretary (Ag.)
Director, Roofs to Reefs Programme (R2RP), Prime Minister’s Office
Government Headquarters Bay Street St. Michael, Barbados
Chief Economist, Economic Affairs and Investment Division, Ministry of Finance, Economic Affairs and Investment
Economist I, Economic Affairs and Investment Division, Ministry of Finance, Economic Affairs and Investment
Secretary to the Minister, Economic Affairs and Investment Division, Ministry of Finance, Economic Affairs and Investment
Ministry of Environment and Energy
Vice-minister of Strategic Affairs
Calle 25. Av. 8-10, San Jose, Costa Rica
International Cooperation Officer
Calle 25. Av. 8-10, San José, Costa Rica
Director of Climate Change
Calle 25. Av. 8-10, San Jose, Costa Rica
Ministry of Environment and Natural Resources
Viceminister of Climate Change and Sustainability
Ave. Cayetano Germosén esq. Ave. Gregorio Luperón. Ensanche El Pedregal, Santo Domingo, Dominican Republic (the)
Ministry of Environment and Natural Resources
Minister of Environment and Natural Resources of Guatemala
7 Avenida 03-67 Zona 13, Guatemala City, Guatemala
Head of International Cooperation
7 Avenida 03-67 Zona 13, Guatemala City, Guatemala
adfernandez@marn.gob.gt
aimoreira@marn.gob.gt
cooperatcioninternacional@marn.gob.gt
Ministry of Economic Growth and Job Creation (MEGJC)
Programme Coordination, Monitoring and Evaluation Officer
Ministry of Environment
Climate Change Director
Diego Dominguez Street, Building 804 Albrook, Ancón, Panama City, Panama
Chief of Staff for International Affairs - Climate Change
Diego Dominguez Street, Bulding 804 Albrook, Ancón, Panama City, Panama
Ministry of Economy and Finance
Director, Directorate Genereal for International Economic Affairs, Competition and Productivity
Jr. Junin 319 - Cercado de Lima, Lima
The National Treasury
Principal Secretary
Treasury Building 12th Floor, Harambee Avenue, Nairobi, Kenya
Programme Manager, National Coordination (FLLoCA)
Senior Policy Advisor, Climate Finance
Vice President's Office
Permanent Secretary
Principal Forest Officer, UNFCCC National Focal Point
Ministry of Environment, Forests and Climate Change
Economic Advisor
Indira Paryavaran Bhavan, Jor Bagh Road, New Delhi-110003, New Delhi, India
Documents
| Title | Type | Date |
|---|---|---|
| Project GAIA ("GAIA") | Approved funding proposal | 24 Nov 2023 |
| Gender action plan for FP223: Project GAIA ("GAIA") | Gender action plan | 25 Oct 2023 |
| Gender assessment for FP223: Project GAIA ("GAIA") | Gender assessment | 25 Oct 2023 |
| Environmental and social safeguards (ESS) report for FP223: Project GAIA (“GAIA”) | Environmental and Social Safeguards report | 23 Jun 2023 |
News + Stories
GCF and partners catalyse USD 600 million to boost adaptation finance
07 Nov 2025 / The Green Climate Fund (GCF), along with its partners MUFG Bank Ltd. (MUFG) and FinDev Canada, have achieved a major milestone in scaling private investment for adaptation with the USD 600 million first closure of the GAIA Climate Loan Fund. GAIA will principally provide loans to adaptation projects in markets most severely impacted by, and least equipped to respond to, climate change, helping to bridge the estimated USD 300 billion annual adaptation finance gap in developing countries most vulnerable to climate impacts.