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 • July 28, 2018
Due to its hilly topography, several areas of Rwanda are located in high risk zones. Natural disasters – and landslides in particular – have the potential to derail economic development affecting communities in terms of damaged infrastructure, displacement and loss of life. Areas of Rwanda have been repeatedly affected by flooding, however, climate change and […]
News • April 23, 2018
April 19 – Jakarta – The Forestry and Environmental Research, Development and Innovation Agency (FOERDIA) of the Ministry of Environment and Forestry hosted a media trip on Thursday, April 19 attended by representatives of the Ministry of National Development Planning (Bappenas), the provincial government, the district government, related government offices as well as media partners […]
News • April 17, 2019
Validation meeting of the pre-feasibility study report under the sustainable energy-water solutions for medium to large scale irrigation of commercial farming in Uganda
On April 17, 2019, the GGGI Uganda office organized a validation meeting to present the pre-feasibility study report of the ongoing study under the sustainable energy-water solutions for medium to large scale irrigation of commercial farming in Uganda. The workshop was presided over by the Hon. Minister of State for Environment, Hon. Mary Goretti Kitutu, […]