Poverty, Reforestation, Energy & Climate Change (PROEZA) (GCF-FP062)

Countries
  • Paraguay
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 1, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Paraguay
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 25.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 90.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Jun 24, 2018


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Project Description

The Poverty, Reforestation, Energy and Climate Change Project (PROEZA1 ) will improve the resilience of 17,100 households that are highly vulnerable to the impacts of climate change (CC) in 64 municipal districts located in eight departamentos of Eastern Paraguay. These municipal districts have been selected because their environmental and social vulnerability is rated as extremely high2 . Per IPCC climatic scenarios and the baseline information on the impacts of CC on people’s livelihoods and ecosystems (see Section C.2), it is estimated that climatic variations would have significant and differentiated effects and intensities in various sectors. In particular, family farming would experience significant reductions in productivity in crops such as cotton, bean, cassava, sesame and sugarcane. Reduced productivity leads to a change of production type and can have important livelihoods impacts as well as social, environmental, economic and cultural effects in the rural sector that can ultimately impact resilience to CC.

Investment Description
  • Green Climate Fund (GCF)
Contact Information

For more information about this project, contact: 

Daniel Gustafson, Deputy Director-General (Programmes) And Officer-in-Charge, TC (FAO): Daniel.Gustafson@fao.org; DDG-P@fao.org; (+39) 06 570 56320; Viale delle Terme di Caracalla 00153 Roma, Italia

ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND

The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies. The IRM is newly created and is still in the process of developing its procedures and website. More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at irm@gcfund.org.