2014 marked the fifth anniversary since the fund’s creation and a further increase in its environmental impact. The annual amount of CO2 emission reductions and energy savings achieved through projects financed by GCPF increased significantly compared to the previous year, each by more than 20%.
GCPF’s committed capital to partner institutions grew by 31% in 2014, bringing the total to almost USD 300 m. Three new partner banks were added to the portfolio, and on-lending to eligible projects increased by 53%.
Examples of financed local projects include:
- Drip irrigation loans to almost 2,000 farmers in India through Ratnakar Bank
- Upgrades to hybrid cars for 236 customers in Sri Lanka through Pan Asia Bank
- A 9 MW hydropower plant in Honduras through Banco Atlantida
- Air conditioner upgrades for a hospital in Nicaragua through BanPro
GCPF is a profitable fund and maintains a solid funding base from both private and public investors, with drawdowns of USD 70m still available. The stability and risk cushion provided by public funding means that the fund is well positioned as an attractive offer also for private investors.
In the year leading up to the UNFCCC conference in Paris in December 2015, GCPF serves as a demonstration that public and private capital can be intelligently combined to have a powerful impact.