Green Climate Fund

• The 35th meeting of Board of GCF will be held in Kigali, capital of Rawanda.
  • Board of GCF generally holds three meetings per year.
• Board is independent and guided by Conference of Parties (COP) to Convention.
• Meetings are attended by more than 300 participants, including National Designated Authorities (NDAs), and Accredited Entities and other partners who assist in delivering climate finance to developing countries.
• From India-
  • NDA: Ministry of Environment Forest And Climate Change.
  • Direct access accredited entities: IDFC Bank, Yes Bank, NABARD, SIDBI, IESIL (IL&FS Environmental Infrastructure and Services Limited).

About GCF

• GCF was established in 2010 under UN Framework Convention on Climate Change (UNFCCC) to help developing countries reduce their GHG emissions and adapt to impact of climate change.
• It is governed by a 24 Board member Board.
• Secretariat is located in Songdo, Incheon- South Korea.
• Key features of GCF
  • Country-driven approach i.e., developing countries lead GCF programming and implementation.
  • Balanced allocation i.e., GCF is mandated to invest 50% of its resources to mitigation and 50% to adaptation in grant equivalent.
  • Provide financial support through flexible combination of grant, concessional debt, guarantees or equity instrument.