By Caroline Fouvet
The 2019 United Nations gathering on climate change (COP25) was an occasion for the Green Climate Fund (GCF) to present its latest developments and activities. The Fund’s Readiness programme, aimed at fostering countries’ capabilities to engage with the Fund, was presented. As a result of the programme, beneficiary countries are able to strengthen their climate finance-related capacity, engage stakeholders in consultative processes, realise direct access to the GCF, access GCF finance, and mobilise the private sector.
Stakeholders directly involved in implementing GCF Readiness spoke about their experience at a GCF side event on 9th December, and how the programme had helped their countries become ready to access climate finance.
A representative from the Kingdom of Tonga’s National Designated Authority (NDA) explained how the country ensured its ownership of the Readiness programme by involving their Ministry of Finance as a delivery partner (DP). As most of GCF DPs are usually international entities, having Tonga’s Ministry of Finance responsible for the management and implementation of GCF Readiness funding constitutes an important achievement for the country’s ownership of the climate finance it receives.
Input from Fundacion Avina, a Latin American philanthropic foundation, focused on lessons learnt from their implementation as a DP of the readiness programme in Argentina, Paraguay, Ecuador, and Peru. Securing country ownership of GCF finance often implies enhancing national climate governance, educating stakeholders on climate change and what a suitable project is for the Fund, as well as taking into account a country’s local circumstances.
Finally, the Global Green Growth Institute (GGGI) shared their experience of implementing Readiness support in Mongolia. The GGGI representative stressed that the programmes’s objective was, first and foremost, to “help the governments to help themselves”, and that the role of international organisations such as GGGI was to provide technical assistance to government and sub-government entities to directly access climate finance. In Mongolia, GGGI contributed to the set-up of the Mongolia Green Finance Corporation (MGFC), which aims to ultimately blend GCF equity funding with international and Government finance, along with funding from national commercial banks.
On the road to ensuring low-carbon and climate-resilient growth to developing countries, it seems that building their own capacity to access climate finance constitutes the linchpin of country ownership. Programmes such as GCF Readiness empower countries to take control of their own development while ensuring its climate alignment.
Acclimatise has provided capacity building to Belize, Guyana and The Bahamas within the framework of their Readiness activities, and is about to support the second Readiness phase in Belize.