Nikhil Aiyush Kumar 
[Photo: FILE]
Climate projects have secured a major boost, with the Green Climate Fund confirming about $224 million in funding support for seven projects.
The latest project approved by the Fund is the Forest Landscape Restoration for Climate Benefits and Resilience project, aimed at strengthening climate resilience through forest restoration.
GCF says all developing countries are eligible for its funding support and the approval of the new Fiji project highlights its continued commitment to working with the country as a climate partner.
The Fund says its latest reforms will also increase its ability to finance new climate projects worldwide, unlocking an additional $8.96 billion in funding capacity.
The increased capacity follows a Board decision on how GCF manages its balance sheet, allowing the Fund to make greater investments using its existing resources.
GCF Executive Director Mafalda Duarte states the reforms are part of efforts to improve the Fund’s efficiency and increase its impact in developing countries.
Under the previous approach, GCF estimated it would have about $3.07 billion available for new projects in the second half of 2026 and 2027.
However, under the new approach, the Secretariat has determined that around $12.66 billion could be available for new programs and projects.
This represents an increase of more than $8.96 billion in funding capacity, based on a similar mix of projects and financial tools used between 2015 and 2025.
