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The Global Environment Facility’s governing body will hold back-to-back Council meetings for the GEF Trust Fund, the Global Biodiversity Framework Fund (GBFF) and the Least Developed Countries Fund/Special Climate Change Fund (LDCF/SCCF) from June 17 to 20 in Washington, DC.
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Council members are set to consider $736.4 million in funding from the GEF family of funds. This includes $495.6 million for 25 projects and programs through the GEF Trust Fund, $37.8 million for the biodiversity fund’s first three projects; and $203 million for 14 climate adaptation initiatives through the Least Developed Countries Fund.
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The proposed GEF Trust Fund financing package includes large initiatives for land restoration through the Great Green Wall Initiative, along with the LDCF; for industrial chemicals in Brazil and Bolivia; and for sustainable cities globally. It could also open the door to a new “coral bond” building on the successful “rhino bond” issued in 2022 with GEF blended finance support.
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The first-ever work program from the GBFF comes less than a year after the new fund was launched. Its first projects will support conservation efforts in Brazil and Mexico. The LDCF work program is the largest in its history.
The Global Environment Facility’s member countries will meet in mid-June to consider allocating more than $700 million in grants for diverse environmental initiatives in developing countries, including the first-ever projects financed by the Global Biodiversity Framework Fund and large programs focused on land health, chemicals, and cities.
In back-to-back Council meetings of the GEF Trust Fund, Global Biodiversity Framework Fund, Least Developed Countries Fund, and Special Climate Change Fund, representatives of the 186 governments are set to build on efforts to ensure donor funding moves quickly and efficiently to reach areas of greatest need for the planet.
“The GEF family of funds is uniquely placed to deliver this diverse set of support where it is most needed – from small islands to the high seas, from cities to the desert,” said Carlos Manuel Rodríguez, CEO and Chairperson of the GEF. “We are committed to working in an integrated, inclusive way to deliver lasting impact across all six multilateral environmental conventions we serve, and in all developing countries where the GEF is supporting action with strategic funding.” ...
