The Global Environment Facility approved the Global Microfinance Initiative (GMI) for locally led action in June 2025. This initiative will strengthen the ecosystem for microfinance in seven countries and generate tailored financial solutions for local climate and nature needs, leading to greater bottom-up leadership and multidimensional resilience.
The Global Microfinance Initiative is designed to improve access to finance for households, small businesses, and entrepreneurs seeking to address their environmental vulnerabilities and explore new opportunities within the just transition. To do this, the initiative will support microfinance institutions operating in the target countries, providing training on the design and roll-out of innovative financial products. Policy dialogues with governments will be key to align incentives, protect consumers, and ensure integration of climate and nature priorities within financial inclusion frameworks.
Countries: Brazil, Colombia, Madagascar, Nigeria, South Africa, Tanzania, Türkiye
Implementing agency: World Bank
GEF financing: $10 million, Co-financing: $1.5 billion
Learn more | Read the Program Document | GEF Press Release
Learn more about the Platform for Locally Led Climate Action