GCF gives green light to largest climate project to date in EBRD partnership
New joint programme spans three continents
The Green Climate Fund (GCF) will start funding its largest climate finance investment to date following an agreement signed with the European Bank for Reconstruction and Development (EBRD).
The GCF-EBRD Green Economy Financing Facilities programme spans three regions and directs new climate finance flows to Armenia, Egypt, Georgia, Jordan, Republic of Moldova, Mongolia, Morocco, Serbia, Tajikistan and Tunisia.
The GCF is contributing USD 378 million to this USD 1.4 billion programme to support thousands of individual investments in technologies that reduce emissions and enhance resilience to climate change.
The agreement becomes effective on 2 February 2018.
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(l-r) Jan-Willem van de Ven, Head of Climate Finance and Carbon Markets, EBRD, Ayaan Z. Adam Director Private Sector Facility, GCF, Jiwoo Choi, Head of the Private Sector Department, GFC and Josué Tanaka, Managing Director for Energy Efficiency & Climate Change, EBRD, at COP23 in Bonn.