USD 2.5 billion, such is the amount of the ambitious budgetary package earmarked for projects/programs in 2016. The members of the Executive Council of the Green Climate Fund adopted this budget, at an informal session held from 2 to 5 February 2016 in Cape Town, South Africa…

This is an opportunity to express the hope of seeing more Congo Basin countries in 2016 benefiting from the "direct access" fund which would help them develop projects and programs.  Through direct access, national and regional entities are able to directly access financing and manage all aspects of climate finance projects, from design through implementation to monitoring and evaluation.

It is also an opportunity to encourage the focal points (National Designated Authority) of the Green Climate Fund, the Adaptation Fund as well as the Global Environment Fund to get more involved in helping one or several national implementing entities get accredited with each of these funds. 

The conditions imposed by these funds would be a springboard for a "take-off" toward transformational projects via fiduciary, social and environmental safeguards needed for sustainable development.

For more information, kindly refer to the article below: Green Climate Fund - 'The Board is united in our commitment to meet our USD 2.5 trillion target.'

Capetown, 05 Feb 2016 - Following the Board’s informal dialogue in Cape Town this week, the new GCF Co-Chairs, Zaheer Fakir and Ewen McDonald, sat down together to discuss the Board’s plans for 2016. They reflected upon the informal meeting, as well as how the Fund can reach its aspirations for the year.

The Board has set an aspirational target to invest USD 2.5 billion during 2016. Is the Fund on track to achieve this goal?

Find out more… Here