Green Climate Fund

Green Climate Fund

The Green Climate Fund (GCF) is a new global fund created by the United Nations Framework Convention on Climate Change to support the efforts of developing countries to respond to the challenge of climate change. GCF helps developing countries limit or reduce their greenhouse gas (GHG) emissions and adapt to climate change.

The Green Climate Fund aims to catalyze a flow of climate finance to invest in low-emission and climate-resilient development, driving a paradigm shift in the global response to climate change, considering the needs of nations that are particularly vulnerable to climate change impacts.

Financial instruments of the Green Climate Fund

The Green Climate Fund offers grants, loans, guarantees and equity instruments for funding projects. It also provides additional grants and technical assistance for preparation of funding proposals and countries’ readiness, as well as for accreditation support of nominated national direct access entities.

The terms of financial instruments for public and private sector are determined on a case-by-case basis.

Some of the guiding principles are:

  • Grants should be tailored to incremental cost or the risk premium required to make the investment viable, or to cover specific activities such as technical assistance;
  • Level of concessionality should not displace investments that would otherwise have occurred, including private sector investments;
  • Levels of indebtedness capacity of the recipient should be taken into account;
  • Promoting long‐term financial sustainability and seeking to maximize leverage in the case of private financing.

Access to the Green Climate Fund

There are five access windows to GCF resources which can be used by the National Designated Authority (NDA), selected national entities or accredited entities, depending on the needs of the country and at what stage it is in its country ownership process and project preparation.

The NDA is involved in all access windows to the GCF, either by implementing country readiness activities, generating or endorsing project proposals, endorsing national entities for accreditation or overseeing project implementation.

The Green Climate Fund at a Glance
North Macedonia
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Sign up to the North Macedonia and the Green Climate Fund (GCF) Newsletter to get the latest news on the country’s engagement with the GCF, including GCF-related priorities, procedures, resources, consultations, news and events in the Republic of North Macedonia.