Tuesday, October 23, 2018

Indonesia: Green Climate Fund Awards USD 100 million for Geothermal Resource Risk Mitigation Project

Green Climate Fund invests USD 1 billion for developing country climate action, launches first replenishment (News Release)

The 21st meeting of the Green Climate Fund (GCF) Board ended today in Bahrain, approving over one billion dollars of new projects and programmes to support climate action in developing countries, and formally launching the Fund’s first replenishment.

The 19 new projects amount to a total investment from GCF of USD 1,038 million, and including co-financing the projects will channel over USD 4,244 million of climate finance for low-emission, climate-resilient development. GCF now has a portfolio of 93 projects amounting to over USD 4,605 million of GCF resources.

In particular the GCF awarded contract #FP083 – USD 100 million for the Indonesia Geothermal Resource Risk Mitigation Project in cooperation with the World Bank.