GCF Adopts Medium Term Strategic Plan For Developing Nations
By Faridat Salifu
The Green Climate Fund (GCF) has solidified its dedication to bolstering assistance for developing nations with the adoption of its Strategic Plan for 2024-2027.
The plan emphasizes the GCF’s role in facilitating climate finance access and translating climate commitments into tangible investments, setting clear targets for the upcoming programming cycle.
Key features of the plan include a reinforced focus on supporting developing countries with their climate commitments, positioning the GCF as a capacity-builder and bold financier, and a core commitment to significantly improving access to GCF finance for developing nations.
The plan also sets specific goals to advance the implementation of climate strategies, conservation efforts, renewable energy access, and adaptation funding, while also promoting sustainable practices in agriculture and fisheries.
Moreover, the plan outlines the GCF’s intention to provide seed capital for innovative climate solutions, facilitate access to green finance for small to medium-sized enterprises (MSMEs), and enable financial institutions to access GCF resources.
These ambitious targets signify GCF’s unwavering commitment to driving positive climate action and achieving impactful results in the years to come.