| Project Detail |
Location: Regional Project number: 56002 Business sector: Financial institutions Notice type: Private Environmental category: FI Approval date: 12 Feb 2025 Status: Concept Reviewed English-language PSD published: 08 Jan 2025 Project Description The GCF Greening Financial Systems (GFS) Framework (GCF GFS Framework or Framework) will consist of a $620 million allocation, of which $434 million will be provided by the Banks ordinary resources and $186 million by the Green Climate Fund (GCF). The Framework will be implemented in Armenia, Egypt, Jordan, Georgia, Kazakhstan, Kyrgyz Republic, Moldova, Mongolia, Morocco, North Macedonia, Serbia, Tajikistan, and Uzbekistan (collectively referred to as the 13 Eligible Countries). The Framework will be provided in the form of loans to partner financial institutions (PFIs) for their investments in low greenhouse gas emissions and climate-resilient development, through gender-responsive on-lending to private and public sector beneficiaries (including individuals, MSMEs and mid-cap enterprises, technology suppliers, producers, vendors and installers/service providers, construction companies, housing associations and municipalities). Project Objectives The GCF GFS Framework will provide an integrated financial platform designed to further increase the amount of financing provided by the private sector to climate-related projects in a gender-responsive manner. Furthermore, the Framework will create an enabling environment encouraging the development of advanced climate practices by local PFIs, including the adoption of transition plans, conducive of a systemic transition towards a climate-compatible financial system. |
