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The Global Biodiversity Framework Fund (GBFF) of the Global Environment Facility (GEF) approved 22 new project preparation grants for projects in 34 countries worth over $87 million.
Proposals accepted in the fourth round of the innovative biodiversity fund focused on international financial institutions (IFIs), Least Developed Countries (LDCs), and Small Island Developing States (SIDS). The GBFF includes specific portfolio targets on these in an effort to ensure that support for biodiversity efforts goes to vulnerable countries, and to take advantage of the financial leverage offered by IFIs.
The new projects selected mean that the GBFF will meet all its portfolio-level targets, not only for this round but across all selection rounds since the start of programming. The share for LDCs and SIDS is now 43 percent, fully on track to meet the target of 39 percent. The share programmed through IFIs will be 28 percent, above the target of 25 percent. Twenty-nine percent of GBFF financing will now support actions by Indigenous Peoples and local communities, exceeding the aspirational target of 20 percent.
Including this round, a total of $288.7 million has now been programmed under the GBFF for 62 project preparation grant requests benefiting 71 countries, encompassing 43 SIDS and LDCs. Twenty-one LDCs and SIDS are successfully accessing the GBFF for the first time in this fourth round.
The 22 proposals were selected for their contributions to the portfolio-level targets, on regional balance and their potential to support national implementation of the targets of the Kunming-Montreal Global Biodiversity Framework of the Convention on Biological Diversity.
Among these projects, the World Bank and the International Finance Corporation will support the Philippines in issuing a biodiversity bond and creating frameworks and other enabling conditions for further bonds, with strong potential for replication across the region and an expected $95 million in leveraged financing – 19 times the GBFF’s investment.
In Eastern Europe, six countries have joined hands to update and expand their biodiversity policies and frameworks for enhanced biodiversity impact – but also align with the directives of the European Union for potential accession to membership.
Meanwhile, five Caribbean SIDS will enhance their technical and financial capacities to conserve biodiversity and strengthen a regional network of exceptional protected areas, home to whales, dolphins, sea turtles, and more than 1,000 fish species.
The selection of these 22 projects leaves approximately $75 million in the second programming tranche, including for the proposals to be received through the fifth selection round which opened on October 27, 2025 and will close on December 12, 2025.
The GBFF is hosted by the GEF and so far, it has received contributions from 12 governments: Austria, Canada, Denmark, France, Germany, Japan, Luxembourg, New Zealand, Norway, Province of Québec, Spain, and the United Kingdom.
