First of all, I don't think it's appropriate to call it the Global Environment Facility (GEF). It is more like a global environmental agency. It is an independent institution with its own secretariat and general meeting. The World Bank, UNDP and UNEP are only responsible for the project management of GEP.

Second, the agency aims to develop and improve the environment. I don't know where your so-called "enclosure" comes from, but it is probably the size of the area they plan to affect. China is a member state. But the agency aims to improve the local environment, rather than buying land locally and distributing it to member States.

You can visit http://www.gefweb.org on their website.