Global Environment Facility (GEF) provides two unique types of international public goods: technology access financing and technology transfer projects. The GEF plays a dual role in green technology transfer. On the one hand, GEF gives full play to its financial advantages to help developing countries acquire green technologies at a reasonable price through“incremental costs”and financial instruments. On the other hand, technology transfer and its application are promoted through“technology demonstration projects”. The GEF’s experience of balancing equity and efficiency in resource allocation and promoting the participation of multiple actors is worth learning, but its two-tier governance structure may affect project efficiency and the utilitarian nature of co-financing projects may lead to blind investment in host countries. The construction of China’s Green Technology Bank and the global layout of the Belt and Road International Technology Transfer Center can use“incremental costs”to leverage public funds and promote the precise matching of“best available technologies”.