The FINANCIAL -- The Green Climate Fund (GCF) on November 6 approved a $31 million climate adaptation grant for the Asian Development Bank’s (ADB) planned Fiji Urban Water Supply and Wastewater Management Project that will benefit a third of the country’s population of 860,000.
The $222 million project is expected to be financed by the grant from GCF, a $67.7 million loan from ADB, and other sources. The GCF grant was among the first group of projects approved by the GCF Board at its meeting in Livingston, Zambia on 2-5 November. ADB gained accreditation to access GCF funding in March, the first multilateral development bank to do so. The European Investment Bank is also considering providing cofinancing for the project, according to ADB.
Source: The Financial