The DBSA was accredited as a National Project Agency (NPA) for the Global Environment Facility (GEF) in 2014. Following the accreditation, the Bank signed a Memorandum of Understanding with the GEF Secretariat. The MOU commits the DBSA as an agency to follow all GEF Policies and establish the conditions in which the Bank can seek resources from the GEF Council for the preparation and implementation of projects.
Accreditation of the DBSA as a GEF agency has placed the DBSA at the global arena in terms of providing financial assistance to environment and climate change projects. This fits into the DBSA’s strategy and focus area of Energy/Environment. As a GEF agency, the Bank is further posed at an opportune position to assess funding and leverage funds from other global sources. The GEF Accreditation process has also provided an opportunity for DBSA to identify and close gaps in its fiduciary, social and environmental safeguards, a process that has enhanced its image and built confidence with stakeholders, including other international partners.
About the GEF
The Global Environment Facility is a partnership for international cooperation where 183 countries work together with international institutions, civil society organizations and the private sector, to address global environmental issues. Since its inception, the GEF has provided more than $12.5 billion in grants and leveraged over $58 billion in co-financing for thousands of projects in developing countries. The World Bank serves as the trustee of the GEF.