Wednesday 8 April, 2020

Belize launches Readiness III to facilitate climate-resilient projects

Belize City 

Photo source: Flickr

Belize City Photo source: Flickr

Readiness III to support the Development Finance Corporation (DFC) accreditation of the Green Climate Fund (GFC) was launched.  

Belize, since 2015, has engaged with the GCF to improve access to international funds and to encourage investment in projects and programs to help the country adapt and mitigate climate change and its effects.

The Belize Press Office on Monday said through GCF Readiness support, multinational professional services network Price Waterhouse Coopers (PWC) was selected to conduct a GAP Assessment and to develop an action plan for the DFC.

The DFC, Belize’s only development bank, is seeking Green Climate Fund Accreditation as a Direct Access Entity (DAE) with the objective of accessing the fund’s resources to facilitate private sector climate-resilient projects in Belize between USD$10 to $50 million.

The PWC will conduct a site visit and meet other key stakeholders December 9-14, 2019.

As a direct access entity, the DFC would aid in facilitating Belize’s access to Green Climate Fund resources for financing climate-resilient investments.

These would include renewable energy and energy-efficient interventions targeting the productive sector including agriculture, manufacturing, agro-industry and tourism.

This would enable the productive sector to become more climate-resilient and reduce Belize’s reliance on fossil fuel energy, consistent with national goals.

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