Green Climate Fund board approves 21 projects, $1.97 billion in new climate finance

INCHEON — The Green Climate Fund (GCF) Board approved 21 projects and $1.97 billion in new climate finance at its 46th meeting, which ended Oct 29 at the fund's Songdo headquarters, the largest total approved at a single GCF Board meeting, the fund said.

The $1.97 billion also included additional financing for an existing facility, according to the GCF. The fund said its approvals in 2026 total $3.3 billion, a new annual record, and that its portfolio now stands at 379 projects and programmes with $22.3 billion in GCF funding.

The Board also accredited 16 new partners, 9 of them Direct Access Entities, which are regional and national entities. It reappointed Executive Director Mafalda Duarte for a second four-year term. Direct Access Entities will manage 34% of the funding approved at the meeting, and five of the projects are the first single-country projects for Algeria, Cameroon, Moldova and Yemen, the GCF said.