GCF Board accelerates climate finance ahead of COP26 meeting, approving USD 1.2 billion for new adaptation and mitigation action

The Green Climate Fund (GCF) Board has approved 13 new projects for mitigation and adaptation action, allocating USD 1.2 billion in GCF resources for climate action – a record amount for a single Board meeting. The new projects bring the total size of the GCF portfolio to USD 10 billion, representing USD 37.2 billion in assets, including co-financing.

Of the 13 projects, GCF has committed USD 125 million for the Global Fund for Coral Reefs (GFCR), undertaken with Pegasus Capital Advisors in Bahamas, Belize, Brazil, Colombia, the Comoros, Ecuador, Fiji, Guatemala, Indonesia, Jamaica, Jordan, Mexico, Mozambique, Panama, the Philippines, Seychelles, and Sri Lanka.

Read online: https://g.cf/2YEixKu