Grants from Green Climate Fund
Grants from Green Climate Fund
The Green Climate Fund (GCF) was set up under the United Nations Framework Convention on Climate Change (UNFCCC) at the 16th Conference of the Parties (COP-16) in 2010 to support developing countries in reducing greenhouse gas emissions and strengthening capacity to adapt to climate change. The Fund aims to mobilize funding at scale to invest in low-emission and climate-resilient development. All developing country Parties to UNFCCC are eligible to receive resources from the GCF in the form of grants, loans, equity, and guarantees. The GCF has started approving projects/programmes to developing countries from 2015 onwards.
The Government of India has been engaging with the GCF and so far, eleven (11) projects/ programmes have been approved to India with a total allocation of USD 782.4 million to mitigate and adapt to climate change in sectors including water, clean energy, coastal, livelihood, transport, medium and small enterprises and climate start-ups. The details of projects are given below:
S.N.
Project/ Programmes
Year of approval
GCF Funding
(in Million USD)
1
Ground Water Recharge and Solar Micro Irrigation to Ensure Food Security and Enhance Resilience in Vulnerable Tribal Areas of Odisha
2017
34.357
(Grant)
2.
Line of Credit for Solar rooftop segment for Commercial, Industrial and Residential Housing
2018
100
(Concessional Loan)
3.
Enhancing Climate Resilience of India’s Coastal Communities
2018
43.418
(Grant)
4.
Green Growth Equity Fund (GGEF)
2021
137 (132.5 Equity, 4.5 Grant)
5.
India E-Mobility Financing Program
2022
200
(Equity)
6.
Climate Investor Two
2022
145
(multi-country)
(Grant)
7.
Green Guarantee Company (“GGC”)
2022
40.5
(multi-country)
(Equity)
8.
Climate Investor One
2022
100
(multi-country)
(Grant)
9.
Project GAIA (“GAIA”)
2023
152.5
(multi-country)
(Equity)
10.
Avaana Sustainability Fund
2024
24.5
(Equity)
11.
Financing Mitigation and Adaptation Projects (FMAP) in Indian MSMEs
2024
215.6 (200 Concessional Loan, 15.6 Grant )
This information was given by the Minister of State for Environment, Forest and Climate Change, Shri Kirti Vardhan Singh in a written reply in the Rajya Sabha today.