The Green Climate Fund has approved $960.3 million in new financing for climate projects across developing economies, pushing its total portfolio beyond $20 billion. The approvals, finalised at the Fund’s 44th Board meeting, cover 18 projects focused on mitigation, adaptation, and resilience-building efforts.
This latest funding round underscores the Fund’s growing role as a key financing mechanism for countries seeking to manage climate risks while sustaining economic growth. With a total of 354 projects now under implementation, the expansion reflects rising global demand for structured and responsive climate finance.
Africa has emerged as a major beneficiary, receiving nearly half of the newly approved funding—approximately $441 million. The allocation highlights the continent’s heightened exposure to climate impacts as well as its increasing strategic importance in global climate investment flows.
One of the flagship approvals is the $250 million ASCENT-GREEN programme, developed in partnership with the World Bank. The initiative is set to enhance resilient energy access across 21 countries in Eastern and Southern Africa, making it the largest single project approved under this funding cycle.