Posted: Friday, May 24, 2019. 10:25 am CST.
By BBN Staff: On May 22, 2019, the Protected Areas Conservation Trust (PACT), the Green Climate Fund’s Direct Access Entity for Belize concluded a three-day Training Workshop on the Green Climate Fund (GCF) Project Design, financed under a GCF readiness project implemented through the regional climate change center.
The workshop brought together key stakeholders from the conservation and natural resource management sector, introducing them to the GCF, its financing portfolio, investment criteria, and funding procedures.
Furthermore, the sessions supported PACT in further defining its Climate Finance Portfolio and its program of work with the GCF.
Nayari Diaz-Perez, Executive Director of PACT said that the workshop provided a platform for participants to share knowledge and exchange lessons and insight in preparing and implementing climate change related projects critical to Belize’s development.
The GCF approved the accreditation of PACT at its 21st meeting held in October 2018 in Bahrain, making PACT the first national GCF Direct Access Entity in Belize.
As an accredited entity, PACT is able to access and distribute GCF grant resources in Belize to support climate mitigation or adaptation actions through micro projects of up to USD $10M in the category of minimal to no environmental and social risk.
PACT’s track record in climate change includes investments approximating BZD $1.5M of its own funds in several climate-related activities across Belize, in the last five years.
Additionally, PACT is currently assisting the Government in the investment of approximately BZD $47.8M in in-country projects with climate-related components financed by third-party sources such as the German Development Bank (KfW), Global Environment Facility (GEF), Forest Carbon Partnership Facility (FCPF) and the Adaptation Fund.
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