Nairobi, April 22 -- Private companies seeking a share of billions of shillings in global climate financing are set to face stricter scrutiny and longer approval timelines following guidelines freshly issued by the National Treasury.

The new framework governing access to the Green Climate Fund (GCF) introduces a rigorous, State-controlled approval process that all project proposals-whether public or private-should undergo before securing funding.

The GCF, headquartered in Korea, is a global financing mechanism that supports developing countries to cut greenhouse gas emissions and adapt to climate change by funding low-emission and climate-resilient projects across public and private sectors. Globally, the fund manages about $20 billion ...