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The 11th GCF Board meeting resulted in the approval of the first eight funding proposals totaling USD 168 million for projects in Africa, Asia-Pacific, and Latin America. The Board adopted a monitoring and accountability framework for accredited entities, including a fee policy for public sector projects (7-10%) and a five-year re-accreditation cycle. While USD 10.2 billion has been pledged to the Fund, only USD 5.83 billion has been signed, with 14 countries yet to finalize contribution agreements. Additionally, the Board approved USD 14 million for readiness support and agreed to develop a strategic plan to be considered at the 12th meeting.

The document argues that expanding fossil gas production in Africa is a 'fallacy' that risks creating stranded assets, increasing national debt, and exacerbating climate vulnerability. It highlights that gas reserves are concentrated in a few nations, meaning expansion will not benefit the continent broadly. Furthermore, it asserts that fossil gas infrastructure often involves high foreign ownership and poor contractual terms, pulling wealth out of Africa. The report contrasts this with the potential of renewables, noting that Africa possesses vast solar and wind resources that could provide cheaper, more accessible energy and more sustainable jobs. Environmental risks cited include the destruction of biodiversity hotspots, such as mangroves and coral reefs, and the health impacts of gas flaring and fracking. The briefing concludes that Africa should leapfrog extractive energy systems in favor of a clean, distributed energy future supported by international climate finance.

The report critiques the Alliance for a Green Revolution in Africa (AGRA), funded by the Rockefeller and Bill & Melinda Gates Foundations, as a vehicle for corporate dominance in African agriculture. The author contends that AGRA promotes a 'technology push' involving GMOs, hybrid seeds, and chemical inputs that benefit agribusiness giants like Monsanto while undermining indigenous knowledge and sustainable agro-ecological practices. The text highlights failed attempts to introduce GM cassava in Nigeria and argues that food insecurity should be addressed through eco-farming and the implementation of the IAASTD review rather than industrial models.

The report examines the EIB's operations in the Global South, specifically in Zambia, Chad, Cameroon, Laos, Philippines, Indonesia, Mexico, and Brazil. It contends that the EIB functions as a demand-driven institution that finances high-yield projects for European firms rather than prioritizing social or environmental goals. Key criticisms include a lack of transparency, failure to adhere to EU environmental and social standards, and the promotion of harmful projects such as large dams and extractive industries. The document concludes with recommendations for a fundamental review of the EIB's project selection, accountability, and monitoring processes.

The document critiques the 'new' Green Revolution in Africa, which it describes as a corporate takeover driven by multinational agribusinesses and philanthropic foundations. It highlights the risks of genetically modified (GM) crops and synthetic fertilisers, contrasting these with the benefits of agroecology. The report argues that small-scale farmers, who produce 80% of the food consumed in Africa, are the key to food security and should be supported through policy reforms that prioritise public goods and ecological sustainability over private corporate profit.

The Jubilee Insurance Company of Kenya Limited implemented a three-phased leadership development programme starting in 2013-14 to address challenges such as low staff morale and poor communication. The programme progressed from personality assessments and 360° surveys to a planned phase of building internal coaching capabilities. Early results indicate improvements in leadership cohesion, employee engagement, and business metrics, including a revenue increase from Kes. 15.48 billion in 2013 to Kes. 21.17 billion in 2014 and a reduction in staff turnover from 15% in 2012 to 10.7% in 2015.

The document provides a statistical overview of remittances from the UK to Africa, detailing the cost as a percentage of the amount sent, the size of the diaspora population in the UK, and the total annual amount of money sent for 16 African nations. Nigeria is the largest recipient by volume, with £2,363 million sent annually, while Tanzania has the highest cost of sending at 14%.

The FSD Africa and FSDAi venture finance portfolio consists of numerous funds and platforms targeting climate action, gender-lens investing, and financial inclusion across the African continent. Key climate-focused initiatives include Africa Climate Ventures, which aims to reduce 100 million tonnes of carbon emissions by 2030, and the Catalyst Fund, which targets 40 pre-seed climate resilience start-ups. Gender-focused funds such as Aruwa Capital and RiTA Fund I specifically address capital imbalances for female-led businesses. The portfolio also includes sector-specific vehicles for fintech (First Circle Capital), insurance (Inclusive Insurance Investment Fund), and renewable energy (Nithio, Spark Energy), utilizing a mix of equity, grants, and debt to catalyze private investment and drive sustainable economic growth.

FSD Africa co-funded the Digital Frontiers Institute (DFI) from 2016 to 2021 to train digital finance professionals in low-middle income countries. The partnership established the Certified Digital Finance Practitioner (CDFP) qualification and reached over 15,000 professionals. Key achievements include the creation of 22 Communities of Practice across 20 countries and the development of 47 DFS regulations, policies, or directives.

The study examines how COVID-19 affected the fiscal positions and debt sustainability of MEFMI member countries, noting a sharp increase in average debt-to-GDP ratios from 63.6% in 2019 to 70.6% in 2020. It highlights the critical role of Local Currency Bond Markets (LCBMs) and international initiatives like the Debt Service Suspension Initiative (DSSI) in maintaining stability. The report identifies significant gaps in operational risk management, specifically the absence of business continuity plans in most member states, and recommends strengthening institutional capacity, technology investment, and the development of transparent debt management strategies to build future resilience.

The Value for Money (VfM) Framework establishes a consistent, evaluative approach for FSD programmes to determine if resources are used effectively to reduce poverty. It moves beyond simple indicators by using 'rubrics'—predefined criteria and performance standards—to make reasoned judgements. The framework is built on the 'Four Es' (Economy, Efficiency, Effectiveness, and Equity) plus Cost-effectiveness, and is aligned with Impact-Oriented Measurement (IOM) and the FSD Compendium of Indicators. It emphasizes a mixed-methods approach, combining quantitative data with qualitative narratives to account for the complexity of market system changes.

The document outlines a VfM framework for FSD programmes based on the 'Four Es' (economy, efficiency, effectiveness, and equity) plus cost-effectiveness. It moves beyond simple indicators to use a combination of quantitative data and qualitative narratives to make judged assessments of performance against predefined standards. The guide integrates with Impact-Oriented Measurement (IOM) and a Compendium of Indicators to help FSDs communicate their performance story and improve resource management.

The COVID-19 pandemic caused a sharp economic downturn in the MEFMI region, characterized by contracting GDP growth, widening fiscal deficits, and deteriorating external positions. To mitigate these effects, member states implemented a range of fiscal measures, such as VAT exemptions and social protection transfers, and monetary interventions, including cutting policy rates and reducing statutory reserve requirements. However, these responses, combined with lower revenues and higher borrowing costs, accelerated public debt accumulation and eroded debt-carrying capacity across the region. The document emphasizes the need for sustainable debt management, fiscal buffers, and economic diversification to build resilience against future shocks.

The report analyzes how MEFMI countries utilized external financing, including emergency facilities from the IMF and World Bank, to cope with the COVID-19 pandemic. It details the shift in creditor composition toward bilateral and private lenders, the deterioration of debt risk ratings, and the specific policy responses adopted by member states. The document concludes with ten key lessons for public debt management during crises, emphasizing the importance of official external finance, operational risk management, and transparency.

The report examines how the COVID-19 pandemic affected local currency bond markets (LCBMs) across MEFMI member countries. It finds that while the crisis increased government borrowing needs and operational risks, most countries maintained stability through fiscal, monetary, and financial policy interventions. Key findings include a general increase in the average time to maturity of domestic debt, a shift in investor behavior toward safe assets, and the use of liability management operations like rollovers and switches. The document concludes that deepening LCBMs, strengthening debt management strategies, and improving market transparency are essential for resilience against future crises.

The report analyzes social protection as a tool for climate resilience, highlighting its ability to provide shock-responsive support, facilitate sustainable natural resource management, and cushion the impacts of low-carbon transitions. It identifies a gap in long-term structural adaptation and notes that while multilateral climate funds are increasingly engaging with social protection, integration remains fragmented and often prioritizes project-based interventions over systemic strengthening.

The document outlines mandatory requirements and recommendations for various GCF funding proposals. General requirements for all proposals include signing a funded activity agreement (FAA), completing legal due diligence, and providing certification of the accredited entity's capacity. Specific conditions are detailed for several projects, including requirements for water reduction strategies in Barbados, technology procurement for pond water treatment in Bangladesh, and GHG emission analysis for cookstoves in Bangladesh. Additionally, the document provides recommendations for project implementation, such as ensuring O&M financing in Tajikistan and strengthening community knowledge management in Zambia.

The report identifies a widening gap between coal capacity and generation, particularly in China and India, where new plants are built as 'system insurance' while renewables displace coal in actual output. Globally, the coal pipeline is narrowing geographically, with 95% of construction concentrated in China and India. However, the report notes a significant slowdown in retirements in the U.S. and EU due to policy interventions and energy security concerns. Regional analyses highlight Indonesia's growth in captive coal for industrial processing, the U.S.'s political push to sustain aging plants, and the EU's structural shift toward a coal-free system. The document also examines the impact of the EU's Carbon Border Adjustment Mechanism on the Western Balkans and the challenges of rebuilding Ukraine's energy system.

The report identifies significant gaps in the governance of the Cabora Bassa oil and gas project in Zimbabwe, noting that consultations have primarily targeted political and traditional leaders rather than the broader community. It highlights extreme poverty, acute climate vulnerability, and collapsed infrastructure in Mbire and Muzarabani districts, warning that current employment patterns are driven by political affiliation and nepotism. The authors argue for the institutionalization of continuous community engagement, transparent benefit-sharing, and strategic investment in climate adaptation and essential services to avoid repeating historical patterns of extractive wealth failing to benefit local populations.

The report examines the 'New Copperbelt' in Zambia's Northwestern Province, highlighting a significant gap between the country's strong formal mining laws and their practical implementation. While large-scale investments from companies like First Quantum Minerals and Barrick Gold drive economic growth, they have also caused heavy metal contamination in rivers and exacerbated social inequalities. The document finds that community engagement often lacks meaningful consent, and the benefits of mining are unevenly distributed, with women and girls facing disproportionate burdens including increased unpaid labour and gender-based violence.