Mirova Sustainable Land Fund 2 Costa Rica, Cote d'Ivoire, Ghana, Malaysia, Morocco, Peru, Philippines (the)

The Mirova Sustainable Land Fund 2 (MSLF2) is a private sector-focused investment programme targeting Costa Rica, Côte d'Ivoire, Ghana, Malaysia, Morocco, Peru, and the Philippines. With a total target size of EUR 350 million, the fund uses a blended finance structure—including a GCF-funded junior tranche—to de-risk investments for institutional investors. The programme consists of an investment facility providing long-term debt and equity to companies in the agriculture, forestry, and other land use (AFOLU) sector, and a Technical Assistance Facility (TAF) to improve company bankability and impact monitoring. The fund aims to sequester 17.2 MtCO2e and enhance the resilience of 63,000 direct beneficiaries through practices such as agroforestry and soil conservation.

• The MSLF2 targets a total fund size of EUR 350 million, with a ceiling of EUR 500 million, leveraging GCF resources to attract private and public commercial co-financing.
• The fund employs a blended finance structure where GCF capital acts as a junior ('first loss') tranche to reduce risk for senior private investors, with a target junior tranche of approximately 20%.
• The programme expects to achieve a mitigation impact of 17.2 million tonnes of CO2 removed and sequestered in GCF-eligible countries over its lifespan.
• Adaptation goals include reaching 63,000 direct and 251,000 indirect beneficiaries with enhanced climate resilience and bringing 105,000 hectares of natural resources under improved low-emission or climate-resilient practices.
• Investments are focused on the AFOLU sector, specifically targeting sustainable forestry (anticipated 40% of fund value) and regenerative agriculture, including agroforestry (anticipated 60% of fund value).
• The fund targets specific value chains including coffee, cocoa, timber, and nuts, as well as avocados, citrus fruits, mangos, and rubber, focusing on perennial crops and agroforestry.
• The programme addresses critical financing barriers by providing patient capital with longer tenors (up to 9-10 years) and grace periods (up to 3 years), which are typically unavailable from local commercial banks.
• A dedicated Technical Assistance Facility (TAF) provides support for investment readiness and impact enhancement, including GHG monitoring, Gender Action Plans, and biodiversity monitoring.
• The fund integrates a strong gender focus, aiming for 50% of the overall portfolio to align with the 2X Challenge criteria for gender-smart investing.

APA

Green Climate Fund (2025). Mirova Sustainable Land Fund 2 Costa Rica, Cote d'Ivoire, Ghana, Malaysia, Morocco, Peru, Philippines (the). https://www.greenclimate.fund/sites/default/files/document/fp263-mirova-multi-countries-fp-public_0.pdf

Chicago

Green Climate Fund. Mirova Sustainable Land Fund 2 Costa Rica, Cote d'Ivoire, Ghana, Malaysia, Morocco, Peru, Philippines (the). 2025. https://www.greenclimate.fund/sites/default/files/document/fp263-mirova-multi-countries-fp-public_0.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Mirova Sustainable Land Fund 2 Costa Rica, Cote d'Ivoire, Ghana, Malaysia, Morocco, Peru, Philippines (the) |date=12 March 2025 |url=https://www.greenclimate.fund/sites/default/files/document/fp263-mirova-multi-countries-fp-public_0.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2025mirova, author = {{Green Climate Fund}}, title = {{Mirova Sustainable Land Fund 2 Costa Rica, Cote d'Ivoire, Ghana, Malaysia, Morocco, Peru, Philippines (the)}}, institution = {Green Climate Fund}, year = {2025}, month = mar, url = {https://www.greenclimate.fund/sites/default/files/document/fp263-mirova-multi-countries-fp-public_0.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }