The 46th Green Climate Fund (GCF) Board meeting approved 21 projects, with $1.97bn in new climate finance, the largest figure approved at a single GCF Board meeting. In 2026, GCF approvals total $3.3bn, a new annual record.

The new approvals bring GCF’s portfolio to 379 projects and programmes with $22.3bn in GCF funding across Africa, Asia-Pacific, Latin America and the Caribbean, and Eastern Europe, Central Asia and the Middle East, amounting to $87.3bn when including co-financing.

The Board also reappointed Mafalda Duarte for a second four-year term.

Co-chair Leif Holmberg said: “This Board meeting has once again demonstrated GCF’s ability to deliver climate finance at scale. With a record level of project approvals and the agreement of a significant package of policies, the Board has laid a strong foundation for the replenishment of GCF’s third programming cycle. These outcomes reflect a fund that continues to evolve and strengthen, enhancing its capacity to support developing countries and reinforcing confidence in GCF’s ability to deploy climate finance effectively and deliver tangible results on the ground.”

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