News Updates 11 November 2022
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PT SMI Upgraded to “Medium” Accredited Entity Green Climate Fund (GCF) Rating

In October 2022, PT SMI managed to achieve an upgrade to "Medium" as an Accredited Entity Green Climate Fund (GCF), having previously received accreditation with a "Small" rating/size in 2017.

This increase in accreditation status allows PT SMI to apply for funding to the GCF with a maximum value of USD 250 million per proposal, with a more varied financial instrument that includes grants, loans, guarantees and equity.

The GCF itself is a financial mechanism within the framework of the United Framework Convention on Climate Change (UNFCCC), which is dedicated to supporting developing countries in low-emission and climate-resilient development efforts.

It is hoped that this increase will further encourage PT SMI to maximize the potential of projects/programs that can be submitted to the GCF, as well as enhance PT SMI's role as an instrument in supporting the financing of climate change adaptation and mitigation projects in Indonesia.

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