The Global Environmental Facility (GEF) is a unique partnership across 18 implementing agencies—including the World Bank Group—that works with 183 countries to support developing countries to meet their international environmental commitments and to help safeguard the world’s forests, land, water, climate, and oceans, build green cities, protect threatened wildlife, and tackle new environmental threats like marine plastic pollution.
Through the GEF’s Blended Finance program, the Non-Grant Instrument Window (NGI), the GEF has provided $700 million across 91 blended finance projects and mobilized $7 billion in co-financing. Financial contributions to support NGI projects are replenished every four years by the donor countries. The next replenishment cycle will close in 2022.
For over two decades, the GEF and IFC have partnered on a variety of non-grant instrument projects, using blended concessional finance to catalyze significant private sector investment and help combat climate change.
IFC-GEF Green Shipping Investment Platform
Approved by GEF Council in June 2020, the Green Shipping Platform aims to create a first-of-its-kind global investment vehicle solely focused on decarbonizing the shipping industry. In partnership with key global shipping companies, the Green Shipping Platform proposes an innovative, global solution to the long-standing split incentive issue between shipowners and charterers, catalyzing private sector financing for a first-of-its-kind fleet of fuel-efficient, low-carbon, green ships.