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December 14, 2022

Global Climate Fund (GCF) continues to support Belize, Approves 2 million dollars readiness grant

climate change

Posted: Wednesday, December 14, 2022. 10:34 pm CST.

Contributed by Ministry of Economic Development: The Ministry of Economic Development (MED), Belize’s National Designated Authority (NDA) to the Green Climate Fund (GCF) and the Climate Finance Unit (CFU), is proud to announce that the GCF has approved a readiness project entitled “Building Capacity for Climate Resilient Infrastructure and Sustainable Urban Land Management and Strengthening the Capacity of the Ministry of Economic Development for Pre-accreditation to the GCF”.

The readiness grant valued at BZD 1,996,074 is to further address three major gaps identified in a previous initiative that will enable the MED to become a Direct Access Entity to the GCF. These three priority areas are as follows:
• Project Management Policies and Standards to be developed and institutionalized at the MED;
• Strategic Plan for the MED to be developed and validated;
• Environmental, Social and Gender Management Framework to be developed and implemented.

Having these gaps addressed, the MED will be one step closer in strengthening its internal structures in meeting GCF’s requirements to access Climate Finance of up to USD 50 million. In addition, the Ministry of Infrastructure Development and Housing (MIDH) and the Belize Association of Planners (BAP) will also receive support to strengthen the inter-institutional coordination mechanism and to identify and prioritize appropriate climate technology solutions for climate adaptation and mitigation. They are also expected to draft the regulatory framework for sustainable urban land management and resilient infrastructure.

The direct beneficiaries of this Readiness are the Ministry of Economic Development, Belize Association of Planners, the Ministry of Infrastructure Development and Housing, Municipalities, populace of Belize and Regulatory Agencies.

The Protected Areas Conservation Trust (PACT) as the Delivery Partner, will be responsible for implementation of the project, with support of MED, MIDH and BAP as the lead entities.

CEO Martinez, on behalf of the Government of Belize, expresses his gratitude to the GCF in approving this proposal and granting us this Readiness, as well as to the CFU and the PACT in developing the Concept Note. He emphasizes that the Government of Belize continues to be firm in its strategy to access Climate Finance to address the Climate Change impacts in Belize.

For more information, contact:

Dr. Osmond Martinez
Chief Executive Officer & NDA to GCF
Ministry of Economic Development
[email protected]

Mr. Carlos Pol
Director, Climate Finance Unit
Ministry of Economic Development
[email protected]

Mr. Leroy Martinez
GCF Economist/Focal Point
Ministry of Economic Development
[email protected]

 

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