Green Climate Fund Allocates USD 782.4 Million to India for Climate Mitigation and Adaptation

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 )

 

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