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Nov. 7, 2018, 3:15 p.m.
The 21st meeting of the Board of the Green Climate Fund (GCF) took place in Manama, Kingdom of Bahrain, from 17 – 20 October 2018. At that meeting, the Board approved 19 new projects and programmes with a total investment from GCF of USD 1.04 billion that will support over USD 4 billion climate mitigation and/or adaptation action in over 50 countries. With the approvals at the 21st meeting, the Fund has now approved 93 projects and programmes with a total GCF funding amount of USD 4.6 billion. GCF has approved 42 new projects in 2018, mobilising a total of USD 8.06 billion in climate financing since the start of the year (including co-financing). During 2018 it has also made a rapid acceleration in implementation on the ground. GCF now has 39 projects under implementation, worth USD 1.60 billion in GCF resources that are being deployed as climate finance in support of developing countries’ climate ambitions under the Paris Agreement.