| PROJECT/ PROGRAM | MODALITY | DATE APPROVED | PROJECT SIZE | ACCREDITED ENTITY/ IMPLEMENTING INSTITUTION |
DESCRIPTION | STATUS |
| Adapting Philippine Agriculture to Climate Change (APA) | Fund Proposal | 16 March 2023 | Small GCF Financing (Grant): USD 26,273,510 |
Food and Agriculture Organization of the United Nations Department of Agriculture |
The Adapting Philippine Agriculture to Climate Change (APA) project aims to shift the country towards a climate-resilient agricultural system and increase climate resilience in rural areas. The project will improve institutional capacities by provision of localized climate information services and through the adoption of climate-resilient agriculture practices, particularly enterprises led by women and indigenous peoples. | Under Implementation |
| Multi-Hazard Impact-Based Forecasting and Early Warning System for the Philippines | Simplified Approval Process | 14 November 2019 | Small USD 9,999,042 |
Lank Bank of the Philippines | The project will strengthen the Philippines’ ability to adjust to climate impacts, and implement long-term climate risk reduction and adaptation measures. It will build on best practice in multi-hazard early warning systems and link with forecast-based action to maximize impacts on the ground. This includes climate-resilient development planning and investment. | Under Implementation |
| Readiness Support to Strengthen the Philippines’ Capacity and Knowledge on Accessing the Green Climate Fund (RPSP 1) | Readiness and Preparatory Support Program | 9 September 2019 | USD 300,000 | Department of Finance (with the Global Green Growth Institute) | The primary objective of the Readiness Support to Strengthen the Philippines’ Capacity and Knowledge on Accessing the Green Climate Fund is to support the NDA in fully implementing its roles and responsibilities. | Under Implementation |
| Readiness Support to Strengthen Philippines’ Engagement and Direct Access with the GCF by GGGI (RPSP 2) | Readiness and Preparatory Support Program | USD 300,000 | Department of Finance (with the Global Green Growth Institute) | The primary objective of the RPSP 2 is to support and enhance the capacity of the DAEs to access the GCF. | Under Implementation | |
Climate Resilient Recovery Readiness Support in the Philippines
|
Readiness and Preparatory Support Program | 29 June 2021 | USD 220,942 | Land Bank of the Philippines | This project support is aimed at supporting effects of the pandemic by developing three vital Project Concept Notes on Food Security, Employment and Green Jobs, and Green Recovery Projects. | Under Implementation |
| Strategic Frameworks support for the Philippines | 31 December 2018 | USD 692,000 | International Finance Corporation (IFC) | The project has reached the status of “in legal processing”. | ||
| Capacity Building for GCF Integrated Results Management Framework (IRMF) | Readiness and Preparatory Support Program | December 2023 | Land Bank of the Philippines | implementation is 12 months Requested GCF to give additional time of at least 6 months for the pre-implementation procurement process LBP will request SA by April 2024 |
| PROJECT/ PROGRAM | MODALITY | DATE APPROVED | PROJECT SIZE | ACCREDITED ENTITY/ IMPLEMENTING INSTITUTION | DESCRIPTION | STATUS |
| Collaborative R&DB Programme for Promoting the Innovation of Climate Technopreneurship | Fund Proposal | 18 Jul 2024 | Large USD 221.2 million | Korea Development Bank | Many of the countries in Southeast Asia are among the most vulnerable to climate change. And yet, some of the countries in the region also have the most carbon-intensive growth. To achieve low emission, climate-resilient growth, these countries not only need climate technology transfer but also a regional ecosystem for climate technology incubation and acceleration. However, the Southeast Asian ecosystem for climate technology incubation, acceleration, and growth investment is nascent. The Collaborative R&DB programme targets five countries in Southeast Asia: Cambodia, Indonesia, Lao People’s Democratic Republic, the Philippines, and Viet Nam. The programme will create an incubation and acceleration platform to support and improve the local ecosystem for climate technology for low emission and climate-resilient development, which are fit-for-purpose for the local market and social conditions. The platform will also enable joint ventures and technology transfer, where appropriate, between local entrepreneurs and global climate technology innovators. These objectives will be achieved through a USD 200 million fund to crowd-in private capital, which will be complemented by technical assistance activities. The technical assistance will build regional and domestic capacity for climate technology, as well as provide enabling policy support. The Climate Techopreneurship Fund, which will be created under this programme, will invest in approximately 40 portfolio companies in the region. The investment in the climate technology and business of the portfolio companies are expected to ultimately reach 2.3 million direct and indirect beneficiaries. This funding proposal was developed with support provided by the GCF Project Preparation Facility. | Approved |
| Project GAIA | Fund Proposal | 25 October 2023 | Large USD 1.5 billion | MUFG Bank, Ltd | Project GAIA will establish a blended finance platform that offers long-term loans for climate adaptation and mitigation investments in 19 of the most climate vulnerable countries in the world – making funding accessible through sources previously unattainable to participating countries. | Approved |
| Green Guarantee Company | Fund Proposal | 20 October 2022 | Large USD 363 million | MUFG Bank, Ltd | The Green Guarantee Company (GGC) is the first ever global institution dedicated to providing guarantees for climate bonds with significant climate adaptation and mitigation impacts. It will create an ecosystem around climate bonds for developing countries by connecting local issuers with international investors and creating working groups in the countries where it operates. | Under Implementation |
| Climate Investor Two | Fund Proposal | 20 July 2020 | Large USD 880 million | Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden | Climate Investor Two (CI2) is a fund that aims to support the private sector to develop and construct climate-resilient infrastructure projects in developing countries in the water, sanitation, and ocean sectors – areas which usually do not attract interest from the private sector. | Under Implementation |
| Global Fund for Coral Reefs Investment Window | Fund Proposal | 7 October 2021 | Large USD 500 million | Pegasus Capital Advisors | As GCF’s first at-scale private sector programme in the blue economy, the Global Fund for Coral Reefs Investment Window (implemented with Pegasus Capital Advisors LP) will create a private equity fund to encourage investments in the blue economy, protecting coral reefs. Targeting 17 countries in Africa, the Asia-Pacific, Latin America and the Caribbean it aims to address critical financing and private investment barriers centred around the blue economy. | Under Implementation |
| ASEAN Catalytic Green Finance Facility (ACGF): Green Recovery Program | Fund Proposal | 19 March 2021 | Large USD 3.7 billion | Asian Development Bank | Designed as Asia’s first regional ‘green recovery’ program, this initiative aims to kickstart countries’ low-emission investments to support economic recovery following COVID-19. By catalyzing increased climate finance from both the private and public sectors, the programme will support at least 20 high-impact, low-emission sub-projects in the region. | Under Implementation |
| Climate Investor One | Fund Proposal | 20 October 2018 | Large USD 821.5 million | Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden | Climate Investor One (CIO) is a blended finance facility. The first component of this program is a development fund, which provides loans in the early stage of a project life cycle. The second component, a construction equity fund, will meet up to 75 percent of total construction costs in tandem with the project sponsor. Compared with conventional project financing, CIO removes the need for complex multi-party financing structures, with the potential to thereby reduce the time and cost associated with delivering renewable energy projects. | Under Implementation |
(Mr.) Joven Balbosa
Undersecretary, International Finance Group
(Ms.) Maria Luwalhati Dorotan-Tiuseco
Chief of Staff and Undersecretary, Climate Finance and Policy Group and Information Management Staff
Alternate Board Member of the Asia-Pacific Group of the GCF
