Climate finance from the multilateral climate funds in the MENA1 region is largely concentrated in a small number of large projects in the form of loans or concessional loans, funded by the Clean Technology Fund (CTF). The total2 amount of finance approved is USD 1.5 billion for 127 projects. This money largely goes towards mitigation efforts despite pressing adaptation needs in the region, especially for water conservation and food security measures. Of the total funding approved for the region, USD 511 million is in the form of grants. Adaptation projects are all in the form of grant support. Over USD 1,002 million is provided in the form of loans or concessional loans for just a few large-scale energy infrastructure projects approved by the CTF and GCF. The top two recipients, Egypt and Morocco, respectively receive 27% and 20% of total approved climate finance in the region, while four of the countries in the region receive no climate finance from the funds monitored by CFU. Approved finance grew by USD 40.5 million in the past year.
