The Green Climate Fund (GCF) is the largest climate finance fund, established within the framework of the United Nations Framework Convention on Climate Change in 2010. The GCF acts as a catalyst for climate finance, using its resources to accelerate the creation of green markets and unlock financial flows for developing countries. It supports both adaptation and mitigation projects equally, following a country-driven approach that prioritizes direct access and targets the most vulnerable developing nations.
The GCF operates through a country-owned partnership approach, leveraging flexible financing solutions and climate investment expertise to accelerate transformative climate action. It supports a wide range of projects, including renewable energy initiatives, climate-resilient infrastructure, and sustainable land use practices. The fund’s investments can be in the form of grants, loans, equity, or guarantees.
In July 2023, ADB and the GCF renewed an agreement allowing ADB to continue accessing GCF funds for its climate finance ambition in Asia and the Pacific.
In November 2024, ADB launched a new regional program, Glaciers to Farms, that will promote sustainable water use and food security in Central Asia, the South Caucasus, and Pakistan amid the catastrophic impacts of accelerated glacial melt due to climate change. Supported by the GCF’s Project Preparation Facility, ADB will conduct risk assessments of glacial melt in Azerbaijan, the Kyrgyz Republic, Tajikistan, and Uzbekistan—forming the scientific and technical basis for the Glacier to Farms program.
13 December 2024
ADB approved a $32 million financing package to help reduce poverty and food insecurity, empower women, and build resilience amid increasing health, economic, and climate vulnerabilities in the Lao People’s Democratic Republic.
14 November 2024
ADB launched a new regional program, Glaciers to Farms, that will promote sustainable water use and food security in Central Asia, the South Caucasus, and Pakistan amid the catastrophic impacts of accelerated glacial melt due to climate change.
11 January 2024
The Government of Mongolia and ADB signed loan and grant agreements totaling $168.2 million for the first tranche of an investment program to support green and inclusive development of Mongolia’s aimags (provinces) and soums (subprovinces).
The Community Resilience Partnership Program is operationalized through the Community Resilience Financing Partnership Facility, which includes a multi-donor trust fund administered by ADB and supported by the French Development Agency, Green Climate Fund, Nordic Development Fund, and the Government of the United Kingdom.
The highly innovative Shandong Green Development Fund Project, cofinanced by ADB, KfW, Agence Française de Développement, and the Green Climate Fund, aims to leverage significant funding from institutional, commercial, and other sources, amounting to about $400 million in seed funding from development partners.
ADB and the Green Climate Fund collaborated on several knowledge products and events, including the following:
ADB and the Green Climate Fund partnered to introduce climate-smart innovations with transformational impact beyond the projects themselves. These projects are scalable and replicable, and align with the climate-change priorities of the country’s beneficiaries.
The second Community Resilience Partnership Program (CRPP) Partnership Forum gathered community leaders, officials, experts, and climate financiers to explore how poverty reduction programs can support climate resilience. The CRPP is operationalized through the Community Resilience Financing Partnership Facility and includes a multi-donor trust fund administered by ADB and supported by the French Development Agency, Green Climate Fund, Nordic Development Fund, and the Government of the United Kingdom.
This brochure outlines how the Community Resilience Partnership Program aims to scale up climate adaptation investment and drive through transformational change to increase the resilience of communities in Asia and the Pacific.
The Community Resilience Financing Partnership Facility is an initiative to support countries in the Asia and Pacific region to scale up community-level investments in climate adaptation, explicitly seeking to build the resilience of poor and vulnerable communities to the negative impacts of climate change.
The Green Climate Fund contributes to ADB’s development initiatives through cofinancing.
In 2017, ADB and the Green Climate Fund (GCF) signed an Accreditation Master Agreement that will allow ADB to access and administer GCF funds and scale up the bank’s climate financing to its developing member countries. This was renewed in 2023, allowing ADB to continue accessing GCF funds to support its climate mitigation and adaptation initiatives in Asia and the Pacific.
Sovereign Cofinancing. In 2024, the Green Climate Fund (GCF) committed $92.4 million in total cofinancing. This includes $50.2 million in loan cofinancing and $25 million in grant for the first tranche of an investment program promoting green territorial development and urban–rural linkages in Mongolia. Secondary towns will become anchors of climate-smart agribusinesses fostering sustainable, resilient, and low-carbon rangeland management.
The GCF also committed $9.9 million to support the E-Mobility Program, which aims to shift to climate-resilient, zero-emission mobility systems in Armenia, Georgia, Indonesia, Kazakhstan, the Kyrgyz Republic, Nepal, and Uzbekistan. Another $6 million under the Community Resilience Partnership Program Investment Fund was allocated to reduce poverty and food insecurity, empower women, and build resilience in the Lao People’s Democratic Republic amid increasing health, economic, and climate vulnerabilities.
