# The Green Climate Fund in the Region: 393 Projects, One in the GCC

> What the Green Climate Fund's own data shows for the GCC and the wider Arab region: one GCC project, USD 474 million in Jordan, and what it takes to access the fund.

**Source:** https://www.esgweise.com/insights/green-climate-fund-gcc-projects/
**Author:** Sumit Agarwal
**Published:** 2026-11-02
**Frameworks:** Paris Agreement
**Countries:** UAE, KSA, Qatar, Bahrain, Oman, Kuwait, Jordan

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## Key points

- The Green Climate Fund's portfolio holds 393 projects with USD 23.2 billion of GCF funding and USD 68.3 billion of co-financing, according to its open data at 30 October 2026.
- One project is in a GCC state: Enhancing climate resilience of the water sector in Bahrain (SAP003), USD 2.3 million through UNEP, approved in October 2018.
- In the wider Arab region, Morocco has the most projects (18) and Jordan the most GCF funding (USD 474 million across 11 projects), followed by Egypt (USD 367 million) and Morocco (USD 343 million).
- The GCC states are developing country Parties under the UNFCCC and can access the fund. Oman's National Adaptation Plan is being prepared with GCF readiness support.

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## Introduction

The Green Climate Fund is the largest dedicated climate fund in the world and an operating entity of the Financial Mechanism of the UNFCCC and the Paris Agreement. Under the new climate finance goal agreed at COP29, Parties aim to at least triple its annual outflows, with those of the other UNFCCC funds, by 2030.

We downloaded the GCF's full project portfolio from its open data service on 30 October 2026 and read it for the GCC and the wider Arab region. The headline is stark: 393 projects, and one in the GCC.

## The portfolio in numbers

| | Value |
|---|---|
| Projects | **393** |
| GCF funding | **USD 23.2 billion** |
| Co-financing | **USD 68.3 billion** |
| By theme | 174 adaptation, 86 mitigation, 133 cross-cutting |
| By access route | 285 entity roles international, 108 direct |
| GCC projects | **1** (Bahrain) |

## The one GCC project

**Enhancing climate resilience of the water sector in Bahrain (SAP003)** is a USD 2.3 million adaptation project, implemented by the UN Environment Programme and approved in October 2018 under the GCF's Simplified Approval Process for small, low-risk projects. It is under implementation.

It fits Bahrain's own analysis. Bahrain's adaptation plans put water and coastal resilience first, and its NDC 3.0 is entirely conditional on finance, technology and capacity support. See [National Adaptation Plans in the GCC](/insights/gcc-national-adaptation-plans-physical-risk/).

## The wider Arab region

| Country | Projects | GCF funding (USD million) |
|---|---|---|
| Jordan | 11 | 474 |
| Egypt | 9 | 367 |
| Morocco | 18 | 343 |
| Tunisia | 10 | 255 |
| Somalia | 7 | 180 |
| Mauritania | 9 | 114 |
| Djibouti | 7 | 73 |
| Iraq | 2 | 50 |
| Bahrain | 1 | 2 |

Multi-country projects are counted for each country they cover, with the GCF amount allocated to that country.

Jordan stands out: eleven projects and the largest GCF allocation in the region. Morocco has the most projects, Egypt the second-largest allocation.

The GCC states are developing country Parties under the UNFCCC and are eligible for GCF support. Their near-absence from the portfolio reflects how rarely GCC entities have applied, not a rule that excludes them.

## Why the GCC is so thin in the portfolio

Three factors explain it.

- **Need and priority.** The GCF's investment criteria include the needs of the recipient, and its allocation targets give particular weight to the most vulnerable countries. High-income GCC states compete poorly on those criteria for large grants.
- **Self-financing.** GCC governments and sovereign investors fund large energy and infrastructure projects directly. The UAE's NDC records a USD 30 billion climate investment fund of its own, ALTÉRRA, launched at COP28.
- **Few applications.** The GCF works through accredited entities and national designated authorities. Without a pipeline of proposals, no projects follow.

There are signs of change. Oman's National Adaptation Plan is being prepared with GCF readiness funding, starting in December 2022. Oman and Bahrain both make large parts of their NDCs conditional on international support, and the COP29 finance goal aims to triple the fund's outflows and simplify access. See [the new climate finance goal](/insights/ncqg-climate-finance-goal-gcc-investors/).

## What it means for GCC banks and companies

- **Co-financing.** GCF projects across the Arab region and Africa need private co-finance. GCC banks and investors with regional operations can sit alongside the GCF and development banks, often with the fund taking a guarantee or first-loss position.
- **Accreditation and pipelines.** GCC financial institutions active in developing markets can work with accredited entities, or seek accreditation, to bring projects to the fund.
- **Standards.** GCF projects come with environmental and social safeguards, results reporting and gender requirements. The same disciplines underpin [sustainability reporting](/services/reporting/) and [assurance](/services/assurance/).

The full portfolio, project by project, is a useful benchmark for anyone designing a climate project in the region: what has been funded, through which entity, at what scale.

ESGweise supports GCC banks and companies on climate risk, sustainable finance frameworks, safeguards and results reporting, the disciplines climate funds and development banks require of their partners. Explore our [IFRS S1 and S2 and climate risk](/services/ifrs-s1-s2-climate-risk/) service.

*Source: Green Climate Fund open data (api.gcfund.org), full project portfolio downloaded 30 October 2026; GCF project page SAP003; NDCs of the UAE, Bahrain and Oman; Oman first Biennial Transparency Report; decision 1/CMA.6.*

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## Frequently asked questions

### Does the Green Climate Fund fund projects in the GCC?

Rarely. Of the 393 projects in the GCF's portfolio at 30 October 2026, one is in a GCC state: Enhancing climate resilience of the water sector in Bahrain (SAP003), a USD 2.3 million adaptation project implemented by UNEP and approved in October 2018. Oman's National Adaptation Plan process is supported by GCF readiness funding, which is separate from the project portfolio.

### Which Arab countries receive the most Green Climate Fund money?

On the GCF's open data at 30 October 2026, Jordan receives the most GCF funding in the Arab region, about USD 474 million across 11 projects, followed by Egypt (about USD 367 million, 9 projects), Morocco (about USD 343 million, 18 projects) and Tunisia (about USD 255 million, 10 projects). Multi-country projects are counted for each country they cover.

### Can GCC countries access the Green Climate Fund?

Yes. The GCF serves developing country Parties to the UNFCCC, and the GCC states are in that group. Access runs through accredited entities, either international (such as UN agencies and multilateral development banks) or direct (national or regional entities accredited by the GCF), with a national designated authority approving each proposal.

### How much has the Green Climate Fund committed in total?

The GCF's open data at 30 October 2026 lists 393 projects with USD 23.2 billion of GCF funding and USD 68.3 billion of co-financing. Of those projects, 174 are adaptation, 86 mitigation and 133 cross-cutting.


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Published by ESGweise Global LLC, Dubai. https://www.esgweise.com