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 ) |