On September 8th, the Global Green Growth Institute and the Ministry of Environment and Sustainable Development (MINEDD) of Côte d’Ivoire, under the Green Climate Fund (GCF) readiness program, organized a validation workshop on the National Climate Finance Strategy.
Recognizing the challenge of financing Côte d’Ivoire’s climate change mitigation and adaptation actions, the Government of Côte d’Ivoire has initiated and implemented programs to access climate finance and mobilize investments in climate projects, including capacity building to engage effectively with the GCF over the long- term.
The country, through the Ministry of Environment and Sustainable Development, received a grant from the Green Climate Fund (GCF) to undertake an eighteen-month readiness program in partnership with the Global Green Growth Institute (GGGI). One of the objectives of this Readiness project is to develop a National Climate Finance Strategy to mobilize public, private and international financial resources. By developing dedicated private-sector financial vehicles and instruments to support climate projects investment. All this will be done in accordance with national priorities in order to help implement the nationally determined contributions (NDCs) and the Paris Agreement in Côte d’Ivoire.
GGGI is assisting the Republic of Côte d’Ivoire to adopt the green growth transition model (aligned with and beyond the scope of this GCF Readiness project), by supporting the management of the implementation of strategic projects and programs. This Readiness project aims to increase investment through private sector support in developing green projects. Private investors are not only important in financing climate change mitigation and adaptation in Côte d’Ivoire, but also for the information and insights they can provide, as well as the expertise and agility they can bring to project development and implementation.
The workshop was opened by speeches from the Director-General of Environment of the MINEDD, Prof. Grah Nazaire LAVRY, followed by Dr. Malle FOFANA GGGI Country Representative, and leading Côte d’Ivoire operations and the Deputy Cabinet Director of the MINEDD, Mr. Parfait KOUADIO representing the Ministry for the opening speech.
Presentations were made on the methodology used to write the strategy and perspectives on how to implement the strategy.
After having collected the recommendations, the strategy was unanimously validated by the participants.