Green Climate Fund (GCF) has made its first donation to the Maldives in aims of delivering safe freshwater to the people in the islands of Maldives in the face of climate change risks.
GCF has transferred the first $3 million, of the total contribution $23.6 million, committed to build better water infrastructure in the atoll nation. The first contribution to the five-year grant project run by UNDP will provide an uninterrupted supply of water to 49 islands that currently rely on emergency deliveries for three months of each year. The project amounts to a total of $28.2 million, from which $23.6 million is disbursed by GCF and the remaining $4.6 million will be contributed by the Maldives government and UNDP.
Five years after its’ first annual meeting, GCF has almost $10 billions of donations pledged but only a few million dollars have reached projects.
The Green Climate Fund (GCF) is a new global fund created to support the efforts of developing countries to respond to the challenge of climate change. The general concept for GCF was first proposed at the Conference of the Parties (COP) to the UNFCCC in Copenhagen, Denmark (COP 15) in 2009, but decided to be established at the COP 16 in 2010.
