Posted: Tuesday, July 17, 2018. 4:43 p.m. CST.
By BBN Staff: The Government of Belize, through the Ministry of Economic Development and Petroleum (MEDP), is hosting a Green Climate Fund (GCF) Workshop at the George Price Center in Belmopan.
The three day workshop began yesterday and is being held under the theme “Building Capacities of the National Designated Authority (NDA) for the Green Climate Fund”.
There are 30 stakeholders from the public and private sector that will be able to get a better understanding of GCF’s modalities and procedures and environmental and social safeguards.
Stakeholders will be able to learn more about the support available for project preparation with the assistance of the GCF’s National Designated Authority (NDA) and other accredited entities.
In addition, they will understand the key stages of the GCF accreditation process for Direct Access Entities (DAEs) to access GCF funds.
In the context of a rapidly evolving and complex international climate finance landscape, countries need a new set of capacities to enable them to access and make use of available climate finance effectively and efficiently.
The Government of Belize (GOB) recognizes the strong demand to establish national mechanisms to ensure that such funds are effectively coordinated, channeled and monitored, and that the results of financed measures can be verified and reported.
In Belize, the MEDP has been appointed by the GOB to act as the NDA.
The NDA plays a crucial role in facilitating, supporting and creating an enabling environment for GCF processes within the country.
The main mission of the GCF is to expand collective action to respond to climate change.
The fund aims to mobilize finance for investment in low emission and climate resilient development initiatives towards the achievement of a 50-50 balance between mitigation and adaptation investments.
There are various barriers that currently hinder Belize’s NDA at effectively undertaking its fund-related responsibilities, including low levels of awareness and understanding among NDA personnel of the GCF operational policies, and their respective roles and responsibilities in relation to Belize’s engagement with the GCF. It is against this backdrop that the GOB and the Caribbean Community Climate Change Centre has received grant funding from the GCF and has commissioned the consulting firm Acclimatise to implement the project “GCF Readiness Preparation Support Project for the Enhancement of Belize’s Capacity to Access and Deliver International Climate Finance through Targeted Institutional Strengthening”.
The workshop is part of the GCF readiness and support project to strengthen the NDA and is intended to:
Enhance stakeholders’ understanding of GCF operational modalities and requirements,
Strengthen capacities to screen GCF concept notes and funding proposals that are consistent with national development and climate priorities, through the implementation of the no-objection procedure, and
Strengthen capacities to assess potential national implementing entities and prepare nominations for GCF accreditation under the direct access modality.
The workshop will conclude tomorrow.
© 2018, BreakingBelizeNews.com. This article is the copyrighted property of Breaking Belize News. Written permission must be obtained before reprint in online or print media. REPRINTING CONTENT WITHOUT PERMISSION AND/OR PAYMENT IS THEFT AND PUNISHABLE BY LAW.