MANILA, PHILIPPINES 22 October 2018 — The Asian Development Bank (ADB) has secured $108 million in funding from the Green Climate Fund (GCF) for its climate change projects, shoring up efforts to increase its climate financing for the Asia and Pacific region.
The new funding—comprising $71 million in grants and $37 million in concessional loans—was approved during the 21st meeting of the GCF board on 17-20 October in Manama, Bahrain, and will provide cofinancing support to three ADB-financed projects in Kiribati, Pakistan, and Tonga.