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Global Climate Fund approves $160 million to support FAO-led projects

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Rome, 13 November 2020 - The Board of the Green Climate Fund (GCF) approved three new FAO-designed projects in Argentina, Guatemala and Sudan for a total amount of $158.6 Million.

Logo Green Climate Fund (GCP)
Logo Green Climate Fund (GCP)© GCP

At the twenty-seventh meeting of the GCF Board, held from 11-13 November, three projects have been approved with FAO as the accredited entity.

The new grants will increase resilience to

  • climate change and are aimed at mitigating greenhouse gas emissions,
  • strengthening resilience to climate change, and
  • combating deforestation.

FAO Director-General QU Dongyu stressed FAO's willingness to continue working closely with GCF in support of food system transformation on the ground for the benefit of society, environment, farmers and consumers at large.

He participated, together with Yannick Glemarec, Executive Director of the Green Climate Fund, at the signing ceremony of the Funded Activity Agreement (FAA) approved for Argentina, worth a total of $82 million.

Qu also reaffirmed FAO's commitment to the Paris Agreement and the global fight against the impacts of climate change and stressed the importance of taking action with “concrete projects”.

Leandro Gorgal, National Director of Financing with International Credit Organizations of Argentina, said the funding initiative represented a big step forward for promoting better forest management and sustainability in Argentina and thanked FAO and the GCF for their support.

(Source: FAO press release)

Background Information

Supporting countries' efforts to mitigate and adapt to the effects of climate change is a cornerstone of FAO's work.

FAO believes that the transition towards low-emission, sustainable food systems can be achieved through climate-smart approaches, practices and techniques that preserve the environment and biodiversity, and at the same time, help build the resilience of millions of poor family farmers.

Through its work with the Green Climate Fund, FAO seeks to scale up climate investments in agriculture that offer socio-economic and environmental benefits that will support countries as they recover from the COVID-19 pandemic and relaunch their economies on low-emission, climate-resilient development pathways.

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