Global Environment Facility
- It is an independently operating financial organization
- GEF is multilateral financial mechanism that provides grants to developing countries for projects that benefit global environment and promote sustainable livelihoods in local communities.
- It was setup as a fund under World Bank in 1991
- In 1992, at the Rio Earth Summit, the GEF was restructured and moved out of the World Bank system to become a permanent, separate institution.
- Since 1994, however, the World Bank has served as the Trustee of the GEF Trust Fund and provided administrative services.
- It is based in Washington DC, United States.
- It addresses six designated focal areas:
- biodiversity,
- climate change,
- international waters,
- ozone depletion,
- land degradation and
- Persistent Organic Pollutants.
- The program supports an active portfolio of over 200 investments globally.
- GEF serves as financial mechanism for :
- Convention on Biological Diversity (CBD)
- United Nations Framework Convention on Climate Change (UNFCCC)
- UN Convention to Combat Desertification (UNCCD)
- Stockholm Convention on Persistent Organic Pollutants (POPs)
- Minamata Convention on Mercury
- India is both donor and recipient of GEF.
Thank you for this!
Other have not clearly written what it is.