Chamber of Commerce, Government collaborate on project to strengthen private sector readiness for climate change

Published by BBNTEAM at August 24, 2021

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Posted: Tuesday, August 24, 2021. 10:28 am CST.

By Aaron Humes: The Ministry of Finance and the Belize Chamber of Commerce and Industry are laying the groundwork for Belizean businesses to benefit from funding for climate change-related issues.

As explained by CEO Kim Aikman, many Belizean businesses are not aware that there is funding such as from the Green Climate Fund (GCF), to undertake projects to alleviate the stress of recovery from climate-change-induced events, such as flood and drought.

Ministry of Finance CEO Osmond Martinez concurred, stating that climate change is real, ongoing and something our productive sector must get to grips with.

The project is entitled Readiness Support for Strengthening Belize’s Private Sector Access to Climate Finance and is being held in a hybrid format simultaneously via Zoom and at the Chamber’s McField Conference Room at 4792 Coney Drive, Belize City, for those who can attend in person.

Through the GCF Readiness Programme, the Government of Belize prioritizes the building of national capacity to access GCF resources through a better understanding of the GCF processes and the design of bankable funding proposals. The current programme is a continuation of the initial engagement with the private sector, which started under the first readiness project to sensitize stakeholders and identify a GCF project pipeline. However, recognizing that significant resources are needed for climate investments, the Government has decided to strengthen engagement with the private sector through this new GCF Readiness Programme. Currently, the private sector has limited knowledge about the GCF, and its engagement in climate actions within Belize is minimal. Given the climate change challenges facing Belize, this readiness intervention is designed to build awareness and strengthen the private sector’s capacity to engage with the GCF.

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