GEF Reviews $3.9Bln Global Environmental Funding Package In Uzbekistan's Samarkand

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 1. The Global Environment Facility (GEF) is reviewing a $3.9 billion replenishment package in Samarkand aimed at defining global environmental financing priorities for the 2026–2030 period, with an emphasis on supporting vulnerable countries and enhancing sustainable investment mechanisms, Trend reports via the Uzbek National Committee on Ecology and Climate Change.

The matter was discussed at the 71st meeting of the GEF Council, which commenced on May 31 ahead of the Eighth GEF Assembly. The event brought together representatives of GEF member states, international organizations, financial institutions, the scientific community, civil society, and the private sector.

A key focus of the opening day was the ninth replenishment of the GEF Trust Fund, including its investment strategy, resource allocation mechanisms, and priority funding areas. Officials noted that the current replenishment envelope amounts to $3.9 billion, while donor countries may continue to make additional pledges until the final package is approved by the World Bank.

Participants stressed the importance of increasing support for least developed countries, small island developing states, as well as Indigenous Peoples and local communities. Delegates also discussed the expansion of transboundary environmental initiatives, strengthening blended finance mechanisms, and increasing private-sector participation in environmental projects.

Another item on the agenda was the GEF Work Program for June 2026, which includes 16 projects across 19 countries, with total GEF financing of $141.4 million and expected co-financing exceeding $828 million.

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