For the world’s least developed countries, reliable adaptation finance can mean the difference between building resilience and remaining exposed to climate risks.

The Least Developed Countries Fund (LDCF) is the GEF’s dedicated vehicle for this support, yet its long-term performance and sustainability remain under scrutiny. In 2016, the IEO conducted a program evaluation using portfolio analysis, field visits, and stakeholder interviews.

The review finds that LDCF activities align closely with United Nations Framework Convention on Climate Change guidance and national priorities, and most projects are expected to deliver tangible benefits. Several completed projects introduced new technologies and built national capacity, creating catalytic effects, but scaling-up has been limited without additional financing.

Efficiency is also constrained by unpredictable donor contributions, which create uncertainty for governments and agencies and delay implementation.

On gender, the evaluation notes progress but continuing ambiguity about what constitutes full mainstreaming. Weaknesses in project data systems further reduce the reliability of portfolio-level reporting.

The report recommends ensuring predictable and sustainable financing, clarifying and consistently applying gender policy, and strengthening the accuracy of project data systems.