FP281
Direct Financing for Communities and Businesses to Respond to Climate Change in the Cook Islands
Direct Financing for Communities and Businesses to Respond to Climate Change in the Cook Islands
The Cook Islands face growing risks from climate change, particularly through the intensification of tropical cyclones. Currently, the Cook Islands incur, on average, about USD 5 million per year (two per cent of GDP) in direct losses due to cyclone-related impacts, of which 90 per cent are to the building sector. Increasing cyclone intensity in the coming decades will further exacerbate these losses. This threat is critical, as nearly all buildings are privately owned and highly exposed to climate hazards.
The programme will provide direct climate finance through an Enhancing Direct Access (EDA) facility, with components ranging from technical support and building retrofitting to public awareness and capacity-building. It will be delivered under a unified framework to individuals, the private sector, non-governmental organisations (NGOs) and community groups. The programmatic model allows for scalable, country-owned solutions integrating technical, financial and institutional elements to build long-term resilience.
The programme is expected to protect a substantial portion of the population and reduce long-term damage to infrastructure, enabling faster post-disaster recovery and economic continuity. Improved access to clean water and better functioning of community facilities will improve public health, and regional learning will be enhanced by positioning the Cook Islands as a model for climate-adaptive building practices in other Small Island Developing States.
Project timeline
Pipeline
16 Oct 2020 • 1841 days
Concept note received
16 Oct 2020
Funding proposal received
04 Aug 2023
Cleared by iTAP
03 Oct 2025
Legal opinion on AE's Internal Approval
22 Oct 2025
Approved
30 Oct 2025 • 1 days
Approved by GCF Board
30 Oct 2025
FAA executed
30 Oct 2025
Under implementation
30 Oct 2025 • 38 days so far
FAA effective
30 Oct 2025
To be completed
30 Oct 2032 • 2,521 days to go
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Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing
| Instrument | Amount |
|---|---|
| Grant | USD 39,982,375 |
| Total GCF Financing |
|---|
| USD 39,982,375 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Grant | USD 2,130,000 |
| Co-Financing | In-kind | USD 602,000 |
| Co-Financing | Loan | USD 1,500,000 |
| Total Co-Financing |
|---|
| USD 4,232,000 |
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
More contacts
National Designated Authority
Climate Change Cook Islands Division of the Office of the Prime Minister
Director of Climate Change
Office of the Prime Minister, Private Bag, Avarua, Rarotonga, Cook Islands
Documents
| Title | Type | Date |
|---|---|---|
| Direct Financing for Communities and Businesses to Respond to Climate Change in the Cook Islands | Approved funding proposal | 18 Nov 2025 |