Image Source: Green Climate Fund (GCF)

At the 39th Board Meeting of the Green Climate Fund (GCF), history was made as $1 billion was earmarked for 17 groundbreaking climate initiatives across 35 developing countries. 

This decision not only bolsters GCF’s portfolio to an unprecedented 270 projects, valued at nearly $15 billion, but also marks a pivotal moment in global efforts to combat climate change.

Among the approved projects are several significant firsts. Albania secures its inaugural GCF-funded country project, while Mozambique pioneers the Fund's first-ever project centered on social protection. Bhutan is set to implement its first GCF project led by a local partner, signaling a strategic shift towards enhancing local ownership and impact.

Further expanding its reach, GCF welcomed six new accredited entities, including first-time participants from Tajikistan, Nigeria, and Côte d'Ivoire. These additions not only broaden GCF’s operational footprint but also empower diverse regions to access critical climate finance.

"The approval of $1 billion for 17 new projects underscores GCF’s commitment to catalyzing transformative climate action," remarked Milagros De Camps German, Board Co-chair. "This funding will significantly boost resilience and sustainability in vulnerable communities worldwide."