GCF: In four years: $5bn in projects. 99 countries. Imagine what we can do next
In only four years, GCF has allocated over USD 5 billion of the USD 7 billion received from contributors. As a result, its Board launched the first GCF replenishment in October 2018. In a competitive global landscape, the announcements of Germany and Norway that they will double their national currency contributions have given a head start to the replenishment, sending a strong signal for others to follow.
An ambitious and successful replenishment will enable GCF to fulfil its role in channelling adequate and predictable climate finance to developing countries. GCF’s support over the next programming period will be critical in raising and realising the climate commitments to be articulated by developing countries in their updated NDCs in 2020.