Korea Green Growth Trust Fund
Organizational profile: The objective of the Korea Green Growth Trust Fund is to mainstream inclusive green growth throughout the World Bank’s lending operations and to help World Bank client countries identify and implement the most innovative, technical and operational solutions to their specific development challenges. In partnership with the World Bank, the Korea Green Growth Trust Fund (KGGTF) was established in 2011 to strengthen and expand the World Bank’s global green growth portfolio by tapping expertise from Korea’s successful green growth experience and investment through public and private resources. Its central approach is to support the World Bank and its clients to operationalize inclusive green growth initiatives, strategies, and investments.
The Trust Fund finances on-the-ground programs as well as knowledge exchange activities, and to date has approved 144 programs in the urban, transport, information and communication technology, energy, environment, water, agriculture and climate sectors. Based on strong performance, as well as increasing demand for collaborative programs, the fund has grown from providing US$40 million in 2013 to US$88 million for World Bank Group programs through 2021. KGGTF provides funding, capacity building, and technical assistance to World Bank teams around the world partnering with client countries as they adopt a green growth strategy and plan for their futures. They partner closely with government partners as they work with client countries, to develop a holistic green growth strategy, and most importantly, implement the projects identified in their strategy.
Financing Instrument: Grants, Technical Assistance
Project scale: Environment and Climate Change projects ranged from US$150,000 to US$2,475,000 in 2019.
Recipient countries regions/country groups: Global
Recipient categories: Governments
Eligibility Criteria: KGGTF prioritizes programs that:
- Focus on low and lower-middle income economies
- Operationalize green growth and sector integration
- Outline green policies and programs that increase productivity and create jobs
- Provide clear and specific technical concepts and activity planning
- Have the potential to become large-scale projects led by the WBG World Bank Group or client countries
Application guidelines: KGGTF advises those with enquiries about grant applications to contact the Country Management Unit at their local World Bank office.