CSBS News Desk
Ms Hela Cheikhrouhou, who has served as the Executive Director of the Green Climate Fund for three years, announced today, 19th February 2016, that she will step down at the end of her tenure this year.
Ms Cheikhrouhou is the Fund’s first Executive Director appointed in June 2013 to establish the structure necessary to make the Fund operational.
Her achievements during her tenure includes; setting in motion the Fund’s first resources mobilization process which resulted in pledges of over USD 10 billion from 43 countries. She also worked with the GCF board to secure the approval of USD 168 million funds for its initial eight projects which marked the end of the Fund’s launch phase and began the flow of climate finance to developing countries through the Fund.
She also oversaw the establishment of the Fund’s headquarters in Korea and the recruitment of permanent staff members.
Steps to appoint a successor will be discussed at GCF’s upcoming twelfth meeting scheduled to take place from 8th to 10th of March 2016.