Despite the COVID-19 outbreak, the Board of the Green Climate Fund (GCF) held its scheduled Board meeting and approved six new projects, including Cuba’s first ever project. The 25th Board meeting (B25) of the GCF took place between March 10-12, 2020 in Geneva, Switzerland, increasing the Fund’s project portfolio to 130 projects with a total value of USD 21.2 billion. The six approved projects have a total funding volume of USD 618.7 million, with USD 169.7 million in GCF funding and USD 449 million in co-financing. One project triggered the GCF’s voting mechanism due to the lack of consensus and another project was strongly opposed to by civil society organizations (CSOs).
The Board meeting was chaired by the two new co-chairs, Nauman Bhatti from Pakistan, representing the developing countries’ constituency, and Sue Szabo from Canada, representing the developed countries’ constituency. The co-chairs had decided in mid-February to move the venue of B25 from the GCF’s headquarters in Songdo, South Korea to Geneva, Switzerland. This decision was made due to the evolving outbreak of the Covid-19 virus and based on discussions with the GCF secretariat and Board members during the informal Board meeting held in Monrovia, Liberia earlier in February this year. The shift of the venue also resulted in limitations on the number of advisors to Board members in the Board room and to the number of observers in the observers’ room. All social events were cancelled and no reception was held in response to the extra-ordinary circumstances.