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 • September 18, 2019
GCF Readiness and Preparatory Support Project for Uganda Climate Change Finance Inter-Ministerial Steering Committee meeting
On the 10th day of September 2019, GGGI Uganda office held the first Climate Change Finance Inter-Ministerial Steering Committee Meeting for the GCF Readiness and Preparatory Support Project. The meeting took place in Kampala at the Ministry of Finance Planning & Economic Development conference hall. A total of 25 participants joined the meeting. The meeting […]
News • October 23, 2018
Villavicencio, October 23 – The GGGI Colombia team under the framework of the sub-national strategy in green growth, and with the support of the Norwegian Embassy and Department of Meta’s Governor Office, carried out the second of four capacity building workshops on green growth for public and private stakeholders. Around 90 participants attended the workshop, […]
Rwanda Public Bicycle Sharing – Project Fact Sheet
REDD+ Financial Mechanism Colombia
|Start Date||Q4 2015|