Sunday 5 April, 2020

Belize launches Readiness III to facilitate climate-resilient projects

Belize City 

Photo source: Flickr

Belize City Photo source: Flickr

 

The Belize Press Office in a release, on Monday, announced the launch of Readiness III to support the Development Finance Corporation (DFC) accreditation of the Green Climate Fund (GFC).  

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.

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 GCF 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 press office said PWC scheduled in Belize during the period of December 9-14, 2019 to conduct a site visit and meet other key stakeholders.

As a DAE, the DFC would aid in facilitating Belize’s access to GCF resources for financing climate-resilient investments such as renewable energy and energy-efficient interventions that will be targeted mainly at 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.

 

Get the latest local and international news straight to your mobile phone for free: