On May 10th, 2023 the Green Climate Fund (GCF) funded Mobilizing international climate finance and private investments for low-carbon development project was launched in the Dominican Republic. With the objective of achieving low-carbon development in the country and increasing public and private sector financing for climate action this project will be delivered by the Global Green Growth Institute (GGGI) with support from the Ministry of the Environment and Natural Resources (MMARN) of the Dominican Republic. 

This launch was attended by the Minister of Economy, Planning and Development, Ceara Hatton, who mentioned that “The Government of the Dominican Republic has initiated an ambitious effort to increase the efficiency of its climate finance ecosystem by diversifying the participation of donors from the country, access to underutilized climate funds and the development of new and innovative financing mechanisms”. 

The Minister’s comments are aligned with the objective of the project, which is to increase the capacity of Dominican Republic institutions to access climate finance, raise their climate change mitigation and adaptation ambitions, and ultimately meet the goals outlined in the country’s NDC and SDGs.  

In this regard, Ferruccio Santetti, GGGI Director & Head of Programs for Latin America and the Caribbean, highlighted GGGI’s work in developing and implementing more than 183 investment projects and policies globally as well as delivering capacity building activities that have trained more than 42,000 participants, including government officials and private sector actors. 

GGGI is very grateful to collaborate with the GCF and the Government of the Dominican Republic in the planning and implementation of this project. We hope to successfully contribute to climate financing approaches, generation of green jobs, mitigation of greenhouse gas emissions within a framework of gender equality and social inclusion for the Dominican Republic.