At a Glance
|Start Date||Q1 2017|
Costa Rica’s NDC aims to achieve carbon neutrality by 2021 with its total net emissions comparable to the emission level in 2005. The agriculture, forestry, and other land use sector (AFOLU) is highlighted in this context. The NDC also aims to advance ecosystem-based adaptation practices that include increasing forest coverage in the country from 54% to 60%. Government of Costa Rica (GoCR) recognizes agriculture as a key source of mitigation accounting for 37% of the total GHG emissions and emphasizes the importance of increasing resilience of agriculture sector (e.g. Café NAMA).
A key challenge is to attract capital into the AFOLU sector to implement national commitments and achieve the targets – a challenge which is exacerbated by the current fiscal deficit of the government.
Innovative mechanisms are therefore needed to attract alternate funding sources, including private sector capital. In this context, the GoCR intends to transform “Environmental Bank Foundation (FUNBAM)” into a specialized financing entity for sustainable development and requested support from GGGI aimed at designing, restructuring and scaling up the vehicle.
The project aims to strengthen FUNBAM as a specialized financing vehicle for sustainable development. The GoCR partnered with GGGI to design, restructure, and scale up an existing financing vehicle which is now called FUNBAM 2.0. In 2017-2018, the focuses are to provide technical assistance on investment plan development, projects origination and structuring, and fund mobilization.
- An investment plan for FUNBAM 2.0’s pipeline projects developed
- Project(s) identified and structured through fund mobilization
News • November 27, 2018
November 27, 2018 – Political validation of the national Green Growth Strategy and Road Map. The Global Green Growth Institute (GGGI) and the Government of Senegal are organizing the National Green Growth Week in Senegal (Global Green Growth Week – GGGWeek) from 26 to 29 November 2018 under the theme: ” Unleashing the potential of […]
News • May 31, 2018
“Rwanda, a developing country in East Africa with overly dense population has agricultural economy. About 82 percent cultivable land needs irrigation. During dry season and due to climate change, demand for secondary irrigation is increasing. Irrigation by electric power, diesel pump and solar pumps are some of the existing alternatives. However, due to the high […]
News • July 27, 2018
GGGI advances in the Department of Nariño (Colombia) with workshop Series #2: “Towards Green Growth with Bioeconomy and Circular Economy”
Pasto, July 27 – GGGI with the support of the Norwegian Embassy and the Governor’s Office of the Department of Nariño, carried out the second workshop out of the four series workshops planned on capacity building for the mainstreaming of green growth objectives at the local level. The workshop gathered public and private stakeholders that gained […]
News • August 31, 2018
August 23, 2018, Kigali, Rwanda – A series of “Inclusive Cities Talk” meetings were launched by the Global Green Growth Institute (GGGI). It was attended by representatives from partner organizations working on inclusivity in Rwanda, such as the Ministry of Infrastructure, UN-Habitat, USAID, the Rwanda Women’s Network, and the Rwanda Ladies in Architecture. Our guest […]