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Together, the GCF and the EBRD are unlocking the necessary financial and technical forces to support green, transformational investments in developing countries. Building on EBRD’s unique private sector mandate, the EBRD-GCF partnership is well positioned to support the global effort in mobilising the required investments for climate action. The GCF and EBRD are supporting climate change mitigation and adaptation projects across 14 countries. The EBRD’s accreditation became effective on 11 May 2017.
Overall, the GCF Board approved eight EBRD-funded activities for a total GCF contribution over USD 1.2 billion, supporting climate adaptation and mitigation projects across 16 countries and three continents – with one now completed, six under implementation, and the most recent soon to become effective. The EBRD is thereby expected to leverage around USD 4 billion in climate co-finance from the public and private sector. From greening cities, to advancing the energy transition in Egypt and Kazakhstan or ensuring climate finance reaches small and medium sized enterprises, EBRD and GCF cooperation will benefit over 35 million people and save over 90 million tonnes in CO2 equivalent, all while performing strongly on gender and economic inclusion.