GEF Council Approves Major Reforms in New Funding Cycle
2 July 2010: The 38th meeting of the Global Environment Facility (GEF) Council took place in Washington DC, US, from 29 June-1 July 2010, and approved major reforms aimed at helping developing countries to meet international environmental challenges, including those related to climate change and biodiversity.
During the meeting the Council approved major reforms designed to give developing countries and stakeholders more control and access to funds, including: direct access to GEF resources for recipient countries looking to meet various UN convention requirements; streamlined GEF project cycle and a move to a more refined and strategic programmatic investment approach; reformed GEF's Country Support Program with$26 million in funding. The Council also agreed to initiate a process to determine how best to integrate new agencies, including qualified national entities, into the GEF network.
In May 2010, during the sixth meeting of donors for the Fifth GEF Replenishment, held in Paris, France, over 30 countries pledged US$4.34 billion to fund projects with global environmental benefits during the next four years. The meeting of donors also agreed to channel US$1.3 billion to the climate change focal area. The financial pledges included some of the Fast Start Financing discussed at the Copenhagen Climate Change Conference.
Commenting on the reforms, Monique Barbut, GEF CEO and Chairperson, stated that "the GEF Council has accorded long overdue recognition to the ability of countries to take the lead in the efficient and effective programming of their multilateral assistance." [38th GEF Council Meeting Website] [Climate Change Policy & Practice Story on the GEF Replenishment] [Joint Summary of the Chairs]