Green Climate Fund announces US$1 billion for 14 Pacific countries: what is at stake
At Global Citizen NOW: Perth, a summit held in Australia in October 2026, Marie-Ange Saraka-Yao, Director of the Department of External Relations at the Green Climate Fund (GCF), announced a pipeline of climate investments developed jointly with 14 Pacific countries. Days later, the programme was approved by the Fund's Board. This text explains what was announced, how the investment is designed and what it indicates about climate finance for those who finance, invest in or deliver projects.
The announcement in numbers
According to the Global Citizen press release, the initiative would mobilize:
- US$1 billion in investment, of which US$250 million in grants from the Green Climate Fund;
- 14 Pacific countries, which took part in developing the pipeline;
- three fronts: climate-resilient infrastructure, coastal protection and water security;
- an estimated benefit to 3.7 million people, who face growing climate impacts.
On the date of the announcement, October 20, the pipeline still depended on approval by the Fund's Board.
Who announced it and what the Green Climate Fund is
Marie-Ange Saraka-Yao heads the GCF's Department of External Relations. The Fund, created under the UN Climate Convention, finances mitigation and adaptation projects in developing countries, and the Pacific islands are among the territories most exposed to sea level rise and extreme events. In her own post, the director said the Fund expanded its work in the region, doubling investments to US$2 billion in two years, decentralizing decisions and opening an office in Fiji, and highlighted the fast processing of a regional infrastructure and energy project benefiting 14 countries.
From pipeline to approved programme: RPACA
The pipeline presented in Perth corresponds to the Regional Programmatic Approach for Climate Action (RPACA). According to the Cook Islands government, the GCF Board approved it on October 26, 2026. The Cook Islands and Palau co-chair the regional working group that shaped the programme, and the Asian Development Bank (ADB) is the accredited entity that implements and co-finances it. According to the Pacific Islands News Association, RPACA provides for:
- US$250 million in GCF grants and about US$809 million in ADB co-financing, for a total of US$1.06 billion. The Cook Islands government cites US$1.2 billion, with US$839 million from the ADB, and sources differ, so it is worth checking the Board's official documents;
- up to 26 infrastructure and adaptation financing sub-projects over ten years;
- reach of about 3.7 million people, 18% of the Pacific population;
- 14 countries: Cook Islands, Fiji, Kiribati, Marshall Islands, Micronesia, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu.
How the investment is designed
The programme has three pillars: strengthening public financial management and climate finance systems, including fiscal risk analysis and adaptation investment planning; delivering resilient infrastructure, such as coastal and flood protection, water, transport, energy and health; and creating a regional blended finance approach to expand adaptation lending to micro, small and medium-sized enterprises. Hemant Mandal, the GCF's Regional Director for Asia and the Pacific, described RPACA as a Pacific-owned and led programme. In the Cook Islands, for example, the funds include upgrading at least four Southern Group airports.
Two aspects deserve attention. The first is the programmatic nature: instead of approving project by project, the Board approves a set of initiatives under common rules, which tends to speed up delivery. The second is the presence of grants alongside credit and private capital, relevant for small countries that need to adapt their infrastructure without increasing their debt.
The context: energy security and speed of finance
The announcement came at the Energy Security and Independence panel on October 19, according to the official program, with José Ramos-Horta, President of Timor-Leste; Anote Tong, former President of Kiribati; Marie-Ange Saraka-Yao; and Tzeporah Berman. Energy security means having energy that is available, affordable and reliable, and energy independence means reducing reliance on imported fuels, such as the diesel that powers many islands. The central theme of the debate was speed: Ramos-Horta said that from the moment a project is identified, it can take up to four years for the first funding to arrive, and he and Anote Tong called for faster access to climate finance, according to the event press release. The panel video also records an argument for projects with a grant component and the discussion on phasing out fossil fuels. The summit, organized by Global Citizen, took place weeks before COP31, the subject of our text on the conference.
What this indicates for companies and investors
- The climate finance model is changing. More money arrives through regional programmes, with grants combined with credit and private capital and with local delivery.
- Timing is the bottleneck. The gap between identifying a project and receiving the first funds decides who gets the money, and well-prepared projects get ahead.
- Safeguards and engagement are requirements. Environmental and social management, community consultation and reliable data are part of eligibility for international funds and of investor analysis.
- Delivery is the test. As Cook Islands Prime Minister Mark Brown summed up, the challenge now is to execute, and the sub-projects still need to be prepared and approved over the years.
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Write to contato@kickgroup.com.br. Sources: Global Citizen press release, event program, event overview, PINA, Cook Islands government and panel video. This text is informational and was updated as of October 31, 2026.