Tag: Green Climate Fund

Green Climate Fund approves $151 million for African Development Bank’s climate resilience programme in the Horn of Africa

Stuart Mitchell

The Green Climate Fund has approved $151 million in financing for a major resilience programme supported by the African Development Bank to address climate vulnerability in the Horn of Africa. The approval was granted at the Fund’s 39th Board meeting and comprises a $90.7 million grant and a $60.3 million loan. The financing will support the Bank Group’s “Building Climate Resilience for Food and Livelihoods in the Horn of Africa programme,” benefitting 4.6 million people across Djibouti, Somalia, Kenya, Ethiopia and South Sudan. The Horn of Africa is most susceptible…

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Green Climate Fund: USD 1.26 billion for climate action in developing countries

Stuart Mitchell

Hosted by Rwanda, the 38th Board meeting of the Green Climate Fund (GCF) took place between 5-7 March, the first Board meeting of the year. The meeting began with a memorial to honour GCF Board member, Daniel Machado da Fonseca, from Brazil, who passed away on 3 March. The GCF Board endorsed eleven climate projects, committing USD 489.8 million of GCF resources. With co-financing, the eleven projects total USD 1.26 billion. With the new projects approved, GCF’s overall portfolio now stands at USD 13.9 billion, with a total value of…

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GCF and UNEP partner to protect mangroves and coastal ecosystems in Dominica and Mozambique

Stuart Mitchell

The Green Climate Fund (GCF) and the United Nations Environment Programme (UNEP) will boost support for global mangrove protection with the announcement of two mangrove conservation and coastal management projects in Dominica and Mozambique. Coastal communities in Dominica and Mozambique are vulnerable to the impacts of climate change, particularly intense tropical storms. Mangroves, often overlooked and underappreciated, can play a crucial role as ‘green infrastructure’ and in integrated ecosystem-based approaches to coastal protection. More than a haven for diverse marine life, mangroves are powerful allies to increase the climate resilience…

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Recharge Pakistan Project receives $77.8 million funding boost from the Green Climate Fund, United States Agency for International Development, The Coca-Cola Foundation and World Wildlife Fund

Stuart Mitchell

The Green Climate Fund (GCF) has announced $66 million in funding to support the Government of Pakistan’s efforts to reduce the twin climate impacts of flooding and drought and improve resilience in some of the country’s most vulnerable communities. Titled “Recharge Pakistan: Building Pakistan’s Resilience to Climate Change through Ecosystem-Based Adaptation for Integrated Flood Risk Management,” the initiative is the largest investment at the national level to-date in an ecosystem-based approach to flood and water resources management. The new 7-year project brings together a broad set of funders to help…

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Deutsche Bank and the Green Climate Fund sign agreement at COP26 to invest in de-carbonization solutions for Sub-Saharan Africa

Stuart Mitchell

Deutsche Bank alongside the Green Climate Fund (GCF) has executed an agreement which commits the GCF to contribute USD 80 million as the seed and anchor investor to a renewable energy investment program. DWS, the independent asset manager majority-owned by Deutsche Bank, will be the executing entity and it has committed to contribute 3% of the anticipated USD 500 million investment facility. The program will be implemented in Sub-Saharan Africa by DWS’s Sustainable Investments team. The signing took place at an official ceremony held at COP26 in Glasgow hosted by…

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