The Global Environment Facility (GEF) is a financial mechanism that promotes international cooperation and fosters actions to protect the global environment. The grants and concessional funds disbursed complement traditional development assistance by covering the additional costs incurred when a national, regional, or global development project also targets global environment objectives. The GEF has defined four focal areas for its programmes : biological diversity, climate change, international waters and ozone layer depletion. Efforts to stop land degradation as they relate to the above four focal areas are also encouraged.

After a pilot phase of three years, the Restructured Global Environment Facility (GEF) was made operational in 1994 with a pledged core fund of US$ 2 billion. Project approvals have increased steadily over the years, and now total about US$ billion.

The GEF Council, comprising 32 members from developing and developed countries, as well as countries in transition, is the governing body. GEF's Implementing Agencies are UNDP, UNEP as well as the World Bank, which also serves as GEF's trustee. The Scientific and Technical Advisory Panel (STAP) is an independent advisory body that provides strategic scientific and technical advice.

The "Instrument for the Establishment of the Restructured GEF", the GEF Operational Strategy and other key documents and Council decisions have laid down additional objectives and guidelines for the. GEF itself as well as for GEF­ supported projects. There are :

-to establish GEF as the principal mechanism for global environment funding;

- to ensure  a  governance  structure  that  is transparent and democratic in nature;

- to promote universality in its participation and to provide for full cooperation in its implementation among UNDP, UNEP and the World Bank ;

- to secure that projects are country-driven;

- to support capacity building and enabling activities (These activities are designed to help countries to fulfill their commitments under the two Rio Conventions on climate change and on biodiversity and relate to national reporting and development of national strategies in these two focal areas);

- to create participatory schemes in the local context at all stages of project  design  and implementation,    particularly  by  involving local communities and NGO expertise ;

- to gain experience with a broad range of projects in order to identify highly effective approaches than can be replicated in different  settings  and  regions  or  serve as demonstration models  in  the  public and private sectors;

- to make use of innovative technologies and procedures;

- to use the most cost - effective instruments available; and

- to encourage follow-up activities supported by recipient and donor governments, multi­ lateral aid organizations, NGOs, and the private sector.

The Department of Posts is happy to release the stamp to commemorate the First Assembly Meeting of the Global Environment  Facility being held in India in April, 1998.

Source : Information Folder issued by Indian Posts & Telegraph Department, Government of India