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Global Environment Facility (GEF)

Global Environment Facility (GEF)

The Global Environment Facility was established by the World Bank, the United Nations Development Programme (UNDP) and the United Nations Environmental Programme (UNEP) in 1990. It operates as the Climate Change (UNFCCC) and Biodiversity (UNCBD) Conventions’ financial mechanism. The GEF was created to provide grants and concessional funds to developing countries to finance incremental costs for programmes, projects, and activities to protect the world's environment. Anti-desertification projects relevant to the focal areas of climate change, biodiversity, ozone depletion, and international waters may be eligible for funding. The GEF is expected to become a financial mechanism of the UNCCD, once the operational modalities are approved by the GEF Council and these decisions by the COP in 2003.