Boosting Accessibility to the Green Climate Fund

In 2018, PACT became the first Belizean entity to have its accreditation approved by the Green Climate Fund, a unique global fund established to limit or reduce greenhouse gas emissions in developing countries. The fund also aims to assist vulnerable societies to adapt to the unavoidable impacts of climate change. According to its website, given the urgency and seriousness of this challenge, the Fund is mandated to make an ambitious contribution to the united global response to climate change. The Ministry of Economic Development and Petroleum has embarked in a sensitization initiative that incorporates the participation of all stakeholders. The purpose of the workshop is to present key aspects of the draft Country Programme and the priority projects proposed for funding and receive feedback from participants. According to C.E.O. Yvonne Hyde says that by project completion, Belize will have significantly increased its capacity on accessing GCF finance.

Yvonne Hyde

Yvonne Hyde, C.E.O., Ministry of Economic Development & Petroleum

“There are several concerns but perhaps one of the important ones is the capacity of certain organizations to be able to not only understand how to access the line of funding but also how to put together a project, profile or concept as a basis for moving towards a full project appraisal documents. Really capacity is one of the areas. The second area is in regards to GCF is to understand what the various units or entities within the GFC, the various mechanisms that the GFC has to be able to access funds. The readiness is also helping us to be able to write in certain case to advise stakeholders on how to put these projects together. Another mechanism that the GFC has is a simplified access procedure which helps countries working with the NDA to be able to access funding up to ten million dollars.”