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GCF aims to become donors’ preferred partner through restructuring efforts

Exclusive Interview: GCF Chief Mafalda Duarte Reveals Plans to Boost Climate Fund’s Impact and Secure More Resources

The Green Climate Fund (GCF) has been making significant strides in its efforts to combat climate change and support developing countries in their adaptation and mitigation efforts. With investments totaling $15 billion across 270 projects, the GCF has been working to make a real impact on the ground.

Mafalda Duarte, the head of the GCF, has been leading the charge to increase the fund’s impact and secure more resources. In a recent interview with Climate Home, Duarte highlighted some of the lesser-known but impactful projects that the GCF has been supporting, from equity investments in entrepreneurs to innovative finance platforms for local governments.

One of the key focuses for Duarte and the GCF is to streamline their operations and make it easier for partners to access funding. The fund has made progress in reducing the time it takes to approve and disburse funds for projects, with the goal of further reducing this timeline in the coming years.

Duarte’s vision for the GCF, known as “50 by 30,” aims to efficiently manage $50 billion by 2030. With total pledges of $33.1 billion secured since 2014, the fund is well on its way to achieving this goal. Duarte also emphasized the importance of supporting the most vulnerable countries, increasing private sector participation, and shifting towards programs that create lasting change.

Despite these successes, the GCF faces challenges, particularly in securing funding from donor governments. The upcoming US election poses a risk to the fund, as a change in administration could impact the US’s contributions. Duarte stressed the importance of being prepared for any potential changes in donor priorities and continuing to make the case for investing in climate action.

Overall, Duarte and the GCF are focused on delivering real-world impact and positioning the fund as a key player in the fight against climate change. With a new organizational strategy in place and a dedicated team working towards their goals, the GCF is poised to make a significant difference in the years to come.

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