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Funds Managed by the GEF

The Global Environment Facility (GEF) was established in 1991 and provides funding to developing countries and countries with economies in transition for projects related to the focal areas of biodiversity, climate change, international waters, land degradation, the ozone layer, and persistent organic pollutants. The funding comes in the form of grants and concessional funding and covers the incremental or additional costs associated with transforming a project with national benefits into one with global environmental benefits.

A large share of financial resources for climate change is mobilized through the GEF Trust Fund. In addition, the Facility administers two funds under the Convention: Least Developed Countries Fund (LDCF) and Special Climate Change Fund (SCCF).

The relationship between the Conference of Parties to the UNFCCC and the GEF as an operating entity of the financial mechanism of the Convention was