By Abdullahi Lukman
The Green Climate Fund (GCF) has approved a $686.8 million investment for 11 projects across 42 countries, aimed at supporting vulnerable communities and mitigating 45.3 million metric tonnes of CO₂.
This funding, which includes co-financing of $1.5 billion, is expected to directly benefit 115.5 million people.
New projects include climate resilience efforts in Serbia and Togo, marking the first GCF investments in these countries.
In addition to the funding approval, GCF’s Board has agreed to establish a regional presence to enhance access and increase the impact of its projects in developing countries.
This move is expected to strengthen GCF’s local partnerships and improve its climate action delivery on the ground.
Co-chair Seyni Nafo from Mali expressed that the new investments are crucial for developing nations, highlighting the inclusion of Serbia and Togo in the Fund’s initiatives.
Co-chair Leif Holmberg from Sweden emphasized GCF’s commitment to accelerating support to climate-vulnerable regions and the importance of private sector partnerships in mobilizing additional resources.
Related Posts
GCF Executive Director, Mafalda Duarte, praised the establishment of regional offices, which she believes will bring GCF closer to those who need it most, further advancing the Fund’s ability to implement its $680 million commitment across 133 countries.
GCF’s portfolio now includes 297 projects with a combined funding of $16.6 billion, which could reach $62.7 billion with co-financing.
Among the approved projects, two focus on leveraging private sector investment: a climate-smart agriculture initiative in Senegal and a sustainable land fund to address deforestation.
These initiatives are part of GCF’s broader strategy to streamline access and facilitate partnerships.
Additionally, the UN’s Early Warning for All initiative received significant funding to improve climate risk resilience in at-risk countries.
The meeting also saw the approval of six new GCF implementing partners, including national entities from Burkina Faso and Armenia.
These partnerships aim to enhance direct access to climate finance for developing countries.
The 42nd GCF Board meeting will be held in Papua New Guinea from June 30 to July 3, 2025.
