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Designing adaptation finance for the green climate fund: challenges and opportunities drawn from existing multilateral funds for adaptation

Supporting adaptation to the adverse effects of climate change and building resilience to future climate impacts by means of finance, technology transfer and capacity building have long been two of the main needs of developing countries since the beginning of the United Nations Framework Convention on Climate Change (UNFCCC). Responding to such needs, adaptation finance has been provided to developing countries by means of the financial mechanisms of the Convention, namely the Global Environmental Facility (GEF), Special Climate Change Funds (SCCF), Least Developed Countries Fund (LDCF), Adaptation Fund (AF) and Climate Investment Funds (CIFs). This working paper reviews these existing financial mechanisms, especially from an operational point of view, and presents lessons learned and good practices to provide insights into how to improve effectiveness of support for adaptation under the newly established Green Climate Fund.