Bhutan gains GCF accreditation with the support of UNCDF
The Bhutan Trust Fund for Environmental Conservation (BTFEC) has gained accreditation as Bhutan’s first National Implementing Entity (NIE) of the Green Climate Fund (GCF). UNCDF assisted BTFEC through the application process, with the support of the EU's Global Climate Change Alliance Plus Initiative and the Swedish International Development Cooperation Agency (SIDA).
GCF accreditation will allow BTFEC to propose projects for GCF funding with support from the Gross National Happiness Commission (GNHC), the National Designated Agency (NDA) for GCF in Bhutan. BTFEC can propose projects of up to US$10 million value for GCF assistance, with projects implemented directly by BTFEC or by nominated implementing entities. All projects must meet GCF requirements for financing.