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Green Climate Fund to consider USD 1.15bn of funding requests this mo

Muara Laboh project. Image by Asian Development Bank (www.adb.org)

October 2 (Renewables Now) - The Green Climate Fund (GCF) is to evaluate 20 funding proposals with a combined volume of almost USD 1.15 billion (EUR 1bn) at the 21st meeting of the board, taking place on October 17-20 in Bahrain.

The list of projects for consideration includes mitigation and adaptation projects targeting Africa, Asia, Pacific islands and Latin America, such as a green mini-grid programme in the Democratic Republic of Congo, the Indonesia Geothermal Resource Risk Mitigation project and a Tonga renewable energy scheme. There is also a major Green Cities programme targeting countries in Central Asia and Eastern Europe such as Armenia, Jordan, Mongolia, Tunisia and more.

The table below shows the geographic distribution of the 20 funding requests and of the projected GCF portfolio if all 20 proposals are approved.

Region Requested GCF amount (USD million) Projected portfolio (USD million)
Africa 214.6 1,161.4
Asia-Pacific 379.3 1,549.3
Eastern Europe N/A 64.4
Cross-region 481.1 1,124.1
TOTAL 1,148.4 4,664.5

At its 21st meeting, the board will also discuss the accreditation of new project partners and proposals to strengthen the fund’s policy framework for project approval.

(USD 1 = EUR 0.86)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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