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 • January 31, 2019
Musanze 22-24 January 2019 Rwanda’s urbanization is taking advantage of existing pillars of growth to support; structure and balance its system of cities and towns, including corridors (Musanze-Rubavu, Kigali, Muhanga, Huye) and gateways (Rusizi, Nyagatare, Rubavu). This led to the selection of Secondary cities based on strategic location, growth trends, unique assets, and potential to […]
News • August 31, 2018
The Global Green Growth Institute (GGGI), in partnership with the Ministry of Infrastructure (MININFRA)and Rwanda Housing Authority (RHA) , conducted citywide surveys in Huye ,Nyagatare and Rubavu over the last two months. Nyagatare and Ruvabu Districts are among the fastest urbanized secondary cities that were identified for this exercise to assess the needs of its […]
News • April 10, 2019
From Planning to Action: Strengthened partnership between Oriental Mindoro and GGGI to demonstrate climate resilient green growth on the ground
On April 10, 2019, the Global Green Growth Institute (GGGI), together with the Department of Trade and Industry (DTI), conducted a “preliminary” technical mission to the Province of Oriental Mindoro to prepare a technical funding proposal tentatively called “Climate Resilient and Inclusive Green Growth: Accelerating Implementation in the Agriculture Value Chain of MIMAROPA Region”, to […]