The United States intends to provide $25 million to the Global Concessional Financing Facility (GCFF) to prioritize support for countries in Latin America, such as Ecuador and Costa Rica, should they become eligible. The funding would support programs benefitting refugees and asylum seekers, such as registration processes, the extension of social services, and integration programs, and would benefit host communities that have generously opened their doors to the most vulnerable. Expanding support to middle-income countries that host large numbers of refugees and asylum seekers, is critical to integrating these refugees and providing access to vital social services.
Global Concessional Finance Facility (GCFF)
- Created in 2016 with strong support from the United States, the GCFF provides longer-term development support on a concessional basis to middle-income countries around the world impacted by refugee crises. The GCFF is a financial intermediary fund housed at the World Bank that works to support country programs targeting refugees and asylum seekers and the host communities where they are located.
- The GCFF works in partnership with the World Bank Group, the Inter-American Development Bank, the United Nations, the European Bank for Reconstruction and Development, the European Investment Bank, and the Islamic Development Bank to assist countries in bridging the development-humanitarian divide as they manage the long-term needs of refugees and host communities.
- The GCFF currently supports programs in Colombia, Ecuador, Jordan, Lebanon, and Moldova. Over $760 million in approved grant funding from the GCFF has supported financing in excess of $3.5 billion for projects in these countries. To be eligible for GCFF grant funding, countries must put in place and maintain strong refugee protection policy frameworks.
- In addition to the United States, the GCFF has benefitted from financial support from Canada, Denmark, the European Commission, Germany, Japan, Norway, the Netherlands, Sweden, and the United Kingdom. To date, the United States has contributed almost $100 million to the GCFF. This $25 million in additional support will leverage lending from the World Bank and Inter-American Development Bank to facilitate refugee and asylum seeker access to housing, social services, and employment opportunities while supporting development in host communities that facilitates integration.