GCF BOARD CAPS RECORD-SETTING YEAR WITH HISTORIC DELIVERY FOR DEVELOPING COUNTRIES

At its 43rd Meeting (B.43), the Board approved USD 1.334 billion in climate finance and 22 new funding proposals, tying its all-time record and achieving the highest number of Funding Activity Agreements (FAAs) signed at approval, poised to accelerate implementation.

Across 2025 (B.41, B.42 and B.43), the GCF approved USD 3.26 billion in programming and 50 proposals, setting new annual performance benchmarks for both financing volume and projects.

“These decisions are not abstract,” said Ambassador Seyni Nafo, Co-Chair of the GCF Board. “Behind every dollar approved is a family rebuilding after storms, a farmer adapting to drought, and a community choosing hope over fear. Solidarity is not a slogan; it is a budget line, a signature, and a lifeline.”

Breakthrough in Direct Access and Country Ownership

The Board accredited the first Direct Access Entities from Kazakhstan, Trinidad and Tobago, Tunisia, and Vanuatu, marking a significant expansion of developing-country leadership in climate finance.

“Country ownership is not a paragraph in policy, it is the hand that holds the pen,” Ambassador Nafo said. “Today, more countries are writing their own climate future.”

Beyond record approval volumes, 2025 strengthened delivery pathways across the Fund, advancing; faster review and approval cycles; a more robust and balanced project pipeline; stronger accountability frameworks; and enhanced collaboration across public and private sectors.

Ambassador Nafo also took to extend appreciation to Co-Chair Leif Holmberg, the GCF Secretariat, developing and developed country Board members, advisers, observers, civil society, private sector actors, accredited entities, and technical panels for “professionalism, constructive engagement, and a shared commitment to climate ambition.”

Leadership Excellency and Transition

With Board leadership transitioning in 2026, Ambassador Nafo confirmed preparation of a comprehensive handover plan to ensure continuity.

“We must carry this momentum forward from approval to disbursement, from commitments to proven impact. Let us match the scale of the crisis with the scale of our humanity.”

Meanwhile, Ambassador Nafo, who is also Coordinator of the Africa Adaptation Initiative (AAI), received glowing tributes for his exceptional leadership.

At the closing meeting of developing countries constituency, representatives, board members, alternate members, advisers, and observers took turns to eulogise Ambassador Nafo for advancing key decisions on climate finance to support developing countries.

“A man who is not respected in society but by his wife is just a clown,” said Bob Natifu, Uganda’s UNFCCC Focal Point person, who serves as Alternate GCF board member. “A king without respect in his own castle is no king. To you and entire team, you are our kings and we salute you. You have allowed us stand so tall at least for the last three board meetings. Thanks again for your leadership and for representing Africa and the entire developing constituency with distinction."

Ambassador Nafo (developing countries) was elected Co-Chair along with Leif Holmberg (developed countries), and are in the final stages of a one-year tenure that began on January 1, 2025, and will end on December 31, 2025.

Consultation on the SEC Work program by the GCF Developing countries constituency

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About African Adaptation Initiative (AAI)

The Africa Adaptation Initiative (AAI) was established by the African Heads of State and Government with the mission to strengthen collaboration on adaptation across the continent through high-level Pan-African and regional dialogues, adaptation action, and addressing the adaptation financing gap. Mandated by the African Ministerial Conference on the Environment (AMCEN), AAI is the initiative from Africa, for Africa and driven by Africa.

About the Green Climate Fund

The Green Climate Fund (GCF) is the world’s largest dedicated climate fund, mandated to support developing countries in reducing emissions and building climate resilience. Established by the UNFCCC in 2010, the Fund plays a central role in delivering the Paris Agreement.