FP229

Acumen Climate Action Pakistan Fund

Acumen Climate Action Pakistan Fund

As one of the top ten countries most vulnerable to climate change, Pakistan faces considerable climate-related risks. This vulnerability is further intensified by the country's strong dependence on agriculture. Rising temperatures and extreme weather events are projected to diminish yields, disrupt growing seasons, exacerbate crop losses, and constrain market access. This poses significant challenges, especially for smallholder farmers who make up 90 per cent of the agricultural workforce. These farmers lack the resources to adapt to climate risks, making them highly vulnerable and threatening the country's food security. 

The Acumen Climate Action Pakistan (ACAP) Fund aims to establish a USD 80 million climate adaptation-focused investment fund in Pakistan, providing patient capital to agribusinesses. The fund's goal is to improve the climate resilience of vulnerable farmers and their livelihoods by providing access to climate adaptation solutions for smallholder farmers. Additionally, a USD 10 million Technical Assistance envelope will provide targeted support to improve the viability of business models of investee companies and build overall climate resilience of smallholder farmers and the ecosystem. The project seeks to demonstrate a commercially viable business model, improve farmers' climate adaptive capacity, and catalyse capital towards Pakistan's national climate adaptation priorities in the vulnerable agriculture sector. 

Total project value

 

Beneficiaries

 

Direct
1,993,266
Indirect
11,062,627
Theme

Adaptation

Result areas

Project timeline

Pipeline

21 Sep 2022 - 533 days

Concept note received

21 Sep 2022

Funding proposal received

21 Aug 2023

Cleared by GCF Secretariat

21 Dec 2023

Cleared by iTAP

12 Feb 2024

Approved

06 Mar 2024 - 130 days so far

Approved by GCF Board

06 Mar 2024

Legal opinion on AE's Internal Approval

01 Jul 2024

Under implementation

To be completed

One region

  • Asia-Pacific

One country

USD  
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing

InstrumentAmount
EquityUSD 25,000,000
GrantUSD 3,000,000
Total GCF Financing
USD 28,000,000

Co-financing

Co-financerInstrumentAmount
Co-FinancingEquityUSD 55,000,000
Co-FinancingGrantUSD 7,000,000
Total Co-Financing
USD 62,000,000

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

Acumen Fund, Inc.
Ms. Lynn Roland
Primary

General Counsel
Phone +1 (212) 566-8821
lroland@acumen.org
Mr. Samuel Jewett
Secondary

ESG Insights Manager
40 Worth Street, Suite 303, New York, United States
Phone +1(612)505-8006
sjewett@acumen.org
More contacts

National Designated Authority

Pakistan
Ministry of Climate Change and Environmental Coordination
Mr. Zulfiqar Younas Primary
Additional Secretary I
2nd Floor, Ministry of Climate Change and Environmental Coordination, LG&RD Complex, G-5/2, Islamabad, Pakistan

Documents