The Green Climate Fund has approved the first seven institutions to channel money from the fund to developing nations, a crucial step for the distribution of climate finance.

“With these implementing entities in place, the first set of funding proposals should be presented to the Green Climate Fund very soon,” Henrik Harboe, one of the GCF board co-chairs, said after a board meeting in Songdo, South Korea this week.

Nations have pledged $10.2 billion to the fund, although only $104 million has actually been transferred.

The seven approved intermediaries are:
– Acumen Fund, Inc.
– Asian Development Bank
– Centre de suivi écologique (CSE)
– Fondo de Promoción de las Áreas Naturales Protegidas del Péru (PROFONANPE)
– Kreditanstalt für Wiederaufbau (KfW)
– The Pacific Regional Environment Programme (SPREP)
– The United Nations Development Programme (UNDP)

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