ADB eco projects in Cambodia, Mongolia, Tajikistan secure GCF funds
The Asian Development Bank has secured $190 million in total funding - comprising of $85 million in grants and $105 million in concessional loans - from the Green Climate Fund (GCF) for its climate change projects in Cambodia, Mongolia, and Tajikistan. The new funding will provide cofinancing support to three ADB-financed projects.
In Cambodia, GCF will provide $30 million in grant and $10 million in loan to complement ADB's loan of $90 million to help develop climate-friendly agribusiness value chains.
In Mongolia, the GCF funding of $50 million in grant and $95 million in loan will supplement the $399 million from ADB and other partners to provide Ulaanbaatar's peri-urban areas with 100 hectares of eco-districts that are low carbon, climate resilient, and livable and 10,000 green housing units.
And In Tajikistan, a GCF grant of $5 million, combined with an equivalent grant from ADB, will support capacity building of the national weather forecasting entity, the State Agency for Hydrometeorology.
