The Green Climate Fund’s board has approved a record-high level of funding: $1.332 billion in new project commitments, bringing its total climate finance approvals for 2025 to $3.26 billion.
Among the newly approved projects is a $295 million investment expected to leverage over $6 billion for what is set to become one of the world’s largest desalination plants, located in Jordan and designed to supply water to half of the country’s population. Another major project is a “glacier-to-farms” program focused on improving water management strategies in parts of Central Asia affected by glacial melt. GCF will contribute $250 million to this initiative, expected to mobilize up to $3.5 billion in total financing.
This record-setting meeting comes amid declining official development assistance and tightening global budgets — pressures from which GCF itself has not been immune. Earlier this year, U.S. President Donald Trump reneged on the country’s $4 billion commitment to the fund.
About the author
Ayenat Mersie
Ayenat Mersie is a Global Development Reporter for Devex. Previously, she worked as a freelance journalist for publications such as National Geographic and Foreign Policy and as an East Africa correspondent for Reuters.
