Driving rapid climate action: 10 new GCF-funded projects ready for delivery

Ten new GCF-funded projects, including the UNDP-supported Coastal Resilience Project in Tonga, are on track for implementation, with two projects in Bhutan and Malawi setting record times for rapid delivery. Steps were accelerated by the Fund to get projects out-the-door as quickly as possible upon their approval by the GCF Board.

GCF signed Funded Activity Agreements (FAA) for 10 projects immediately after their approval at the 39th meeting of the GCF Board. 

The FAA is an agreement that contains conditions to be fulfilled by the GCF Accredited Entity (AE) and must be negotiated and signed by GCF and the AE before the project can launch. As this can be a lengthy process, GCF has been making efforts to speed this step up. This is part of GCF’s efficiency agenda that aims to swiftly deliver projects in developing countries through reforming the Fund’s funding processes.