On March 20, the Global Green Growth Institute and the Ministry of Environment and Sustainable Development (MINEDD), under the Green Climate Fund (GCF) readiness program, organized the kick-off workshop to discuss direct access, national climate strategy, private sector engagement to climate finance, and national GCF platform in Ivory Coast. The workshop was attended by participants from Ministries, Civil Society Organizations, International Organizations, Private Sector and the National Direct Access Entities candidates for GCF accreditation.
The objectives of this event were to: 1) launch the GCF readiness program;2) inform participants on Green Climate Fund project implementation progress; 3)present the working tools developed by the Designated National Authority (DNA) and other partners, i.e. the Country Programme, the no-objection procedure, etc..; 4) make an inventory of past GCF programs that had supported the country; 5) present the new GCF program and collect feedback on the barriers faced by the private sector for a better mobilization; 6) discuss the modalities for setting up a structured platform at the national level for better access to climate finance. The overall objective of this platform is to strengthen the synergy of actions between stakeholders for a greater mobilization of Green Climate Fund financing for the benefit of Ivory Coast.
Recognizing the challenge of financing Ivory Coast’s climate change mitigation and adaptation actions, the Government of Ivory Coast has initiated and implemented programs to access climate finance and mobilize investments in climate projects, including capacity development 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). This Readiness project aims to improve Ivory Coast’s access to GCF by supporting the accreditation of a National Direct Access entity (DAE) – Banque National d’Investissement (BNI). This project will identify the capacity building needs of the candidate for accreditation, in collaboration with key government entities, to increase its capacity to prepare and manage climate change projects. Also, the project will support the development of a national financial resource mobilization strategy with a focus on climate finance to identify financing options, including recommendations on mobilizing private sector investment for priority climate actions.
GGGI is assisting the Republic of Ivory Coast to adopt the transition model for green growth (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 also aims to support the private sector in developing projects and increasing investment in climate change. Private investors are not only important for their role in financing climate change mitigation and adaptation in Ivory Coast, 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. This project will, therefore, ensure the engagement of the private sector, and enable its project development for potential funding from Green Climate Fund.
The workshop was opened by speeches from: (i) Dr. Eric-Michel ASSAMOI, Director of Climate Change Direction of the MINEDD, (ii) Dr. Malle FOFANA, GGGI Country Representative, and leading Ivory Coast operation and (iii) Prof. Lavry Grah Nazaire, Director-General of Environment of the MINEDD, representing the Minister for the opening speech. Presentations were made by the NDA, Dr. Tiangoua Kone on Ivory Coast’s engagement with the Green Climate Fund. He emphasized the financial resources already mobilized, the Country Programme (CP), the GCF Readiness 2.0 Program, the GCF funding opportunities, and the private sector barriers to access to climate finance.
The GCF GGGI readiness project coordinator, Dr. Arman Nicaise gave information about the project background and justification, objectives and key deliverables. He ended with the project work plan projection.
At the end, the participants gave their recommendations and suggestions for setting up a structured platform on the Green Climate Fund at the national level. The conclusions are summarized on effective communication and collaboration between stakeholders and the NDA.