Costa Rica Environmental Bank Foundation (FUNBAM)

At a Glance

Start Date Q1 2017
Funding Source Core
Approved Budget 0
Status Complete
Thematic Area
  • Sustainable Landscapes

Project Rationale

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.

Planned Results

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


3rd National Urban Forum Rwanda- Background Paper Water and Sanitation  • Rwanda  • Green Cities  • Sustainable Landscapes  • Sustainable Energy
3rd National Urban Forum Rwanda- Background Paper

Water and Sanitation  • Rwanda  • Green Cities  • Sustainable Landscapes  • Sustainable Energy  • Cross Cutting

News • October 8, 2018

GGGI joins Costa Rica in its new and bold journey toward decarbonization

GGGI is pleased to join Costa Rica’s new and bold journey toward decarbonization – with its new national policy on decarbonization, which will be introduced in December 2018. As mentioned in the GGGI Director-General’s Progress Report, Costa Rica – a green growth champion – has generated 99 percent of its electricity from renewable sources since 2014, […]

Sustainable Energy-Water Solution for Medium to Large Scale Irrigation of Commercial Farming in Uganda
Start Date Q1 2018
Funding Source Partner
Approved Budget USD 290 166
Status Active
Thematic Area
  • Water and Sanitation
  • Sustainable Landscapes
  • Sustainable Energy
News • November 30, 2017

Colombia launches partnership to protect Amazon rainforest from deforestation

International Finance Magazine writes about the Amazon Vision Fund in Colombia The Tropical Forest Alliance 2020, an initiative hosted by the World Economic Forum, is joining forces with the Government of Colombia to launch a multistakeholder platform of businesses, civil society organizations and donor agencies to protect over 60 million hectares of Amazon rainforest within its […]