November 17, 2021
Press Release
The Green Climate Fund (GCF) is one of the largest multilateral sources of finance for implementing climate change projects. As part of Saint Lucia’s second GCF Readiness and Preparatory Support Programme project, the Department of Economic Development (Ministry of Finance), as the National Designated Authority to the GCF, has partnered with the Caribbean Community Climate Change Centre and the international consulting firm, E Co. Ltd to provide the “Green Climate Fund Climate Finance and Project Development Training” to thirty (35) participants from seven (7) public sector and seven (7) private sector agencies.
The purpose of the training is to provide participants with the necessary skills to prepare funding proposals and ultimately secure funding for Green Climate Fund climate change projects. The specific objectives of the training are:
- To create and improve technical know-how on climate change project design, including an in depth understanding of key project development components.
- To equip participants with the skills to develop high quality funding proposals.
- Showcase private sector financing opportunities.
- Understanding the international, regional, and national climate finance architecture.
- Enhance understanding of the linkages between climate finance proposals and national climate and development strategies.
- Identify critical project risks and their mitigation actions.
The training is being delivered across 12 virtual-format sessions, which commenced October 19, 2021 and will end in February 2022. The sessions feature several international speakers, who will provide guidance on different critical aspects of climate change projects, showcasing regional case studies, international best practice in project development for climate change projects and opportunities for networking on cross-cutting climate change adaptation and mitigation issues.
Participants will apply their learning during the training sessions by establishing and developing a project idea from inception. Currently there are five (5) projects being developed during the sessions, with each project having the potential to secure on average 1 million to 10 million USD in climate finance for Saint Lucia. These projects span key sectors and themes prioritised within Saint Lucia’s National Adaptation Plan (NAP) and Nationally Determined Contribution (NDC), including resilient marine and terrestrial ecosystems, low emission and climate resilient urban design, climate resilient tourism, and climate resilient infrastructure and climate education for schools in Saint Lucia.
It is anticipated that these projects along with the capacity building exercise would underscore Saint Lucia’s continued efforts to mitigate the effects of climate change.
For more information, please contact:
National Designated Authority, Department of Economic Development
Tel: (758) 468-5500 Fax: (758) 452-6700 Email: slugcfnda@gmail.com
