Global Environment Facility. An independent financial organization that provides grants and mobilizes financing to developing countries for projects that benefit the global environment and promote sustainable livelihoods in local communities. The Parties to the UNFCCC assigned operation of the financial mechanism of the UNFCCC to the GEF on an on-going basis, subject to review every four years. The GEF is also the financial mechanism of several other international conventions. (see also SCCF and LDCF) 

Sources: (general source) (Climate Finance)