Global Environment Facility (GEF)
The Global Environment Facility (GEF) was established in October 1991 to provide new and additional grants and concessional funding to cover additional costs associated with transforming a project with national benefits into one with global environmental benefits. The GEF unites 180 member governments in partnership with international institutions, nongovernmental organizations and the private sector. It is today the largest funder of projects to improve the global environment and it provides grants for projects related to biodiversity, climate change, land degradation, ozone depleting substances, persistent organic pollutants and international waters.
The African Development Bank (AfDB) joined the GEF in November 2003 as an Executing Agency, with direct access to GEF resources. Over the years, the Bank has increased its pipeline of projects in climate change, biodiversity and land conservation, and international waters.
Demand for projects that protect the environment and promote sustainable development has been increasing over the past decade as countries expand their economic activity in sectors such as tourism, agriculture, energy and transportation. The AfDB and the GEF represent an important source of funding and technical expertise for countries in Africa with limited resources to finance such projects. The AfDB has helped its regional member countries secure $25 million of projects that was funded with grant resources from GEF.
The AfDB’s growing role as a major source of GEF financing reflects our capacity to combine these projects with our own investments so we can achieve a broader development goal. Moreover, as a multilateral organization, we can leverage the impact of these projects by bringing public and private partners to co-finance them. The Bank has devoted efforts to introduce the Bank as a GEF Executing Agency in national-level dialogues and actively engage with national GEF focal points in identifying opportunities for AfDB-GEF operations.
On average, for every $1 of GEF resources, the AfDB has attracted $4 in co-financing since the Bank’s partnership with the facility began in 2003. The AfDB-GEF project pipeline is expected to increase further with the fifth replenishment period for the Facility, which started in July 2010.
For more information on the Fund visit the official web site
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