At the 2009 UN Climate Change Conference in Copenhagen, the developed countries committed to jointly mobilize 100 billion USD a year by 2020 to address the needs of developing countries and to help them adapt to climate change and grow in a climate-compatible manner. The new Green Climate Fund (GCF) will play a key role in the process and a significant portion of this commitment will flow through this funding entity.

On 6th July 2017, GCF approved IDCOL to become the 1st Direct Access Entity (DAE) from Bangladesh. As an accredited entity, IDCOL is able to access the GCF fund directly for any climate change mitigation/adaptation project to be implemented in Bangladesh. The fund can be channeled to private/public sector entity or through private sector banks and financial institutions. IDCOL is accredited for GCF funding instrument of “Senior Loan” & “Grant” and is able to receive up to 250 million dollars for each GCF project.

IDCOL can avail grant support from GCF in the form of Project Preparation Facility (PPF) to prepare each individual project. IDCOL is the first Accredited Entity of Bangladesh to receive such funding which amounts to around USD 1.00 million for three PPFs.
At present, IDCOL holds a strong pipeline of climate change projects specializing in the domain of both adaptation and mitigation. Within this pipeline, IDCOL has submitted its first Funding proposal to GCF on 23rd January, 2020. Subsequently, concept notes (CNs) have been submitted for several other projects and two of these CNs have already received approval from GCF for progressing further to develop them into full funding proposals.

Key pipeline projects are as follows:

• Promoting private sector investment through large scale adoption of energy saving technologies and equipment for textile sector of Bangladesh
• Promoting private sector investment through large scale adoption of energy saving technologies and equipment for garment sector of Bangladesh
• Climate Resilient Sustainable Coastal Forestry in Bangladesh
• Scaling up solar powered irrigation to ensure food security and enhance resilience in drought prone areas of Bangladesh
• Ensuring Clean Energy to the Industrial Sector of Bangladesh through Sustainable Rooftop Solar Programme
• Enhancing climate resilience of heritage sites in Bangladesh coastal region

Other than the above mentioned projects, IDCOL has been selected as the Implementing Partner for the Global Clean Cooking Program – Bangladesh, which is funded by Green Climate Fund (GCF) and International Development Association, World Bank.