Established in 1991, the Global Environment Facility (GEF) is a global partnership that helps tackle the planet’s most pressing environmental problems. GEF brings together 183 countries, international institutions, nongovernment organizations, and the private sector to help developing countries address environmental problems. GEF administers six trust funds. ADB participates in three of these trust funds, specifically:
- The GEF Trust Fund supports activities within the GEF focal areas.
- The Least Developed Countries Fund addresses the special needs of the 51 least developed countries that are especially vulnerable to the adverse impacts of climate change.
- The Special Climate Change Fund supports adaptation and technology transfer in all developing countries party to the United Nations Framework Convention on Climate Change
In 2022, GEF supported nine investment and technical assistance (TA) projects,* including (i) improving Vanuatu’s urban resilience in Greater Port Vila through capacity building, institutional strengthening, and the construction of two multipurpose emergency shelters with a grant financing of $2.3 million; (ii) helping the Greater Chennai Corporation in India enhance flood retention through ecosystem restoration in the Kadapakkam Lake, a newly developing peri-urban area which is under worsening risk of water pollution, encroachment, and biodiversity loss, with a grant financing of $6.9 million; and (iii) improving terrestrial and freshwater ecosystem health in the upper and middle reaches of the Yangtze River basin in the People’s Republic of China with a TA cofinancing of $8.1 million.
News
The Asian Development Bank approved $3.8 million to support the restoration, conservation, and management of coral reefs in four countries in Southeast Asia and the Pacific. The project, financed by the Asia-Pacific Climate Finance Fund and the Global Environment Facility, will develop climate risk financing and insurance solutions to protect coral reef ecosystems in Fiji, Indonesia, the Philippines, and Solomon Islands.
The Asian Development Bank joined with the Global Environment Facility and the Nordic Development Fund (NDF) at COP27 to announce grants of $16.5 million for the Blue Pacific Finance Hub, which aims to build ocean and coastal resilience in countries threatened by the impacts of climate change. The Blue Pacific Finance Hub aims to raise $50 million in grant finance to leverage $500 million in ocean investments to build resilient blue economies in the Pacific.
Stories
Coastal and marine habitats are threatened by unsustainable human activities directly impacting the livelihoods of fisherfolks and other communities reliant on marine resources. An ADB project, cofinanced by the Global Environment Facility, sought sustainable management and conservation of coastal resources, and increased income for coastal communities.
ADB is helping its developing member countries to make informed and long-term investments in sustainable fisheries and infrastructure, marine protected areas, blue economy, pollution control, and coastal ecosystem restoration. ADB’s Action Plan for Healthy Oceans and Sustainable Blue Economies will invest $5 billion in ocean health and marine economy projects over the next 5 years.
Project Map
