Publication

04.03.2015

Green Climate Fund: Access Modalities and Readiness of Bangladesh

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The Green Climate Fund (GCF) is the newest financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC). Under the scope of Article 11 of the UNFCCC, the GCF was established at the 16th Conference of the Parties (COP 16) with an aim to achieve overriding objective of: ‘….promoting the paradigm shift towards low-emission and climate-resilient development pathways in the context of sustainable development’.

Over the years, since COP 16 in 2010, the GCF has been evolved as an independent institution with its own governance mechanism, institutional structure, secretariat and fund pledges both from the developed and developing countries. As of December 2014, 31 countries put their fund pledges and the amount already reached very near to USD 10.2 billion equivalents.  The Fund was expected to be fully operationalized by the end of 2014, but yet to be; hence the Fund board has decided to start taking decisions on the approval of projects and programmes no later than its 3rd meeting in 2015.

Given the scope of the GCF, this briefing paper analyses background of the Fund establishment, its operation and access modalities and briefly focuses on the readiness of Bangladesh to access and programme GCF finance effectively. 

TAGS:

  • access
  • GCF