Streamlined project cycle, direct access to funds, and new country support program part of ambitious agenda
The governing body of the world’s largest public environmental fund, the Global Environment Facility (GEF), this week approved major reforms aimed at improving access by and achieving results on the ground in developing countries looking to meet international environmental challenges related climate change, biodiversity and other global challenges.
“These reforms bring the GEF to a new level of engagement with recipient countries. Today the GEF Council has accorded long overdue recognition to the ability of countries to take the lead in the efficient and effective programming of their multilateral assistance. We look forward to a new and improved level of engagement with member countries and our other stakeholders as we enter our next operational phase,” said Monique Barbut CEO and Chairperson. “Given the continued strain in the financial situation, we look to all parties – government and business, local communities and civil society – to harness and leverage resources available to them and join forces to propose solutions to climate change, loss of biodiversity, and development needs. “
At its 38th meeting, the Council approved major reforms designed to give developing countries and stakeholders more control and access to funds.
Among the reforms approved by Council are:
- direct access to GEF resources for recipient countries looking to meet various UN convention requirements
- streamlined GEF project cycle and a move to a more refined and strategic programmatic investment approach
- reformed GEF’s Country Support Program with $26 million in funding
The Council also agreed to initiate a process to determine how best to integrate new agencies, including qualified national entities, into the GEF network.
Last month the GEF received a record boost from donor countries today with 35 nations pledging $4.34 billion in what will be the first significant multilateral step toward the commitments in Copenhagen on climate change and in other key international environmental agreements. The pledges for the next four years represent the largest ever increase in funding for the GEF.