The United Nations’ Green Climate Fund (GCF) has announced a new agreement with the Netherlands Development Finance Company (FMO) that will enable the implementation of low-emission and climate-resilient projects in developing countries.
The announcement forms part of the FMO’s commitment to increasing its green investments to 40 per cent by 2020, with the new agreement to focus primarily on the private sector in the developing world.
"Partnering with FMO increases the ability of the Green Climate Fund to support private sector climate investment in developing countries. FMO’s nimble approach and experience in mobilising funds will be invaluable to GCF’s Private Sector Facility as it accelerates private sector engagement to provide climate solutions,” Javier Manzanares, GCF’s interim Executive Director
Linda Broekhuizen, Chief Investment Officer of FMO, stated, "With the GCF partnership, FMO can provide blended finance solutions to accelerate far-reaching climate mitigation and adaptation projects that empower people in seizing opportunities to overcome climate change."