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GEF Co-Financing. Sub-Regional Workshop for GEF Focal Points Middle East and North Africa Casablanca, Morocco, 24-25 November 2008. What is GEF Co-financing?.

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GEF Co-Financing

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gef co financing

GEF Co-Financing

Sub-Regional Workshop for GEF Focal Points

Middle East and North Africa

Casablanca, Morocco, 24-25 November 2008

what is gef co financing
What is GEF Co-financing?
  • GEF Co-financing comprises the total of cash and in-kind resources committed by governments, other multilateral or bilateral sources, the private sector, NGOs, the project beneficiaries and the concerned GEF agency, all of which are essential for meeting the GEF project objectives
  • Adequate co-financing is expected for GEF-financed MSPs and FSPs; 1:4 co-financing ratio is the average, 1:1 is minimum benchmark targeted
what is not gef co financing
What is NOT GEF Co-financing?
  • Finance for baseline activities when such activities are not essential for achieving the GEF objectives
  • Financing for other activities that are related to the project or to similar commitments but which are not essential for the project’s successful implementation (termed “Associated Financing”)
  • Additional resources – beyond those committed to the project itself – that are mobilized later as a direct result of the project, e.g, for further replication of the project (termed “Leveraged Resources”)
why is co financing important
Why is Co-financing important?
  • A key principle underlying GEF’s success in its efforts to have significant positive impact on the global environment
  • A key indicator of the strength of the commitment of the counterparts, beneficiaries, and donors and GEF Agencies
  • Helps ensure the success and local acceptance of those projects by linking them to sustainable development, and thereby maximizes and sustains their impacts
sources of co financing
Sources of Co-financing
  • GEF Agency’s own co-financing
  • Government contribution (counterpart commitments)
  • Other funding provided by multilateral and bilateral organizations, NGOs, private sector, and project participants
types of co financing
Types of Co-financing
  • Grants
  • Loans
  • Credits
  • Equity investments
  • Commitment of in-kind support
identification of co financing
Identification of Co-financing
  • At PIF stage, initial co-financing commitments by GEF Agency, Government, and other possible sources
  • At project document stage, detailed and documented information on sources and amounts of co-financing
  • At CEO endorsement, official letter of confirmation in English of co-financing is required from donors (GEF Agency, government, others)