Climate finance towards vulnerable countries: evidence from the Global Environment Facility (GEF) Online publication date: Fri, 04-Mar-2016
by Syed Mahbubur Rahman; Mokbul Morshed Ahmad
International Journal of Green Economics (IJGE), Vol. 9, No. 2, 2015
Abstract: Many countries highly vulnerable to climate change are from developing parts of the world. Lack of sufficient financial resource compels them to seek sponsors from international sources to address climate change. The Global Environment Facility (GEF) is the largest multi-donor funding mechanism that supports the climate vulnerable countries to initiate projects on mitigation and adaptation. This study reviews the financing pattern of the GEF, channelled through various agencies, towards highly climate vulnerable countries chosen from the recent three vulnerability indices prepared by different organisation and institutions. The GEF database is used to analyse the flow and volume of investment towards the selected countries. The study finds that GEF allocation is not even-handed among the climate vulnerable countries, and involvements of the GEF agencies with respect to allocation, distribution and focal area are not equivalent either. However, the GEF has leveraged co-financing more than four times the money it has provided.
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