According to ADB website, the Financial Intermediary Loan will finance a pool of green projects sponsored by local governments through ring fenced and special purpose vehicles with mandatory green (e.g. carbon reduction plus land, water, and air pollution indicators) and financial bankability (e.g. financial internal rate of return, debt service coverage ratio) indicators; conditional on PIC leverage ratios; and cross-sector: (i) water and sanitation, including drainage and sponge cities; (ii) urban transport, including electric vehicles and public transport; (iii) waste management, including waste to energy and hazardous waste; (iv) environment, including forestry and land remediation. The program could also support ADB PRC flagship programs, particularly "Yangtze River Economic Belt Framework," "Low Carbon City," and the "Belt and Road" initiative by leveraging sovereign funding.
Executing Agency: Ministry of Finance
Sanlihe, Xicheng District
People's Republic of China
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 email@example.com.