At a Glance
|Start Date||Q1 2017|
|Actual Budget (USD)||0|
|Actual Expenditure (USD)|
|GGGI Share (USD)|
|Poverty and Gender Policy Markers|
|Name of Client (Lead/Prime implementer if GGGI is part of a consortium)|
|Participating Organization (Funding/donor)|
|Name of consortium members, if any|
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
Review of GGGI’s experience to design and operationalize NFVs to finance climate and green growth policy implementation
News • March 2, 2020
LONDON, The United Kingdom, February 17, 2020 – The GGGI Cambodia team and the Waste & Resources Action Program (WRAP), supported the British Embassy in Phnom Penh, organized a study trip to the United Kingdom (UK) to learn about the UK’s waste management systems and technologies. Entrants in the study trip included eight Cambodian provincial […]
News • October 30, 2017
Panel discussion on innovating agriculture for climate and food security in Africa, during the Global Green Growth Week conference in Addis Ababa, Ethiopia. Credit: Wambi Michael/IPS ADDIS ABABA, Oct 20 2017 (IPS) – Index insurance is being promoted as a solution to protect climate affected smallholder farmers in Africa. This type of micro insurance is […]
News • February 24, 2020
The Ministry of National Development Planning (Bappenas) is committed to switch to a low carbon development approach by integrating Low Carbon Development Initiative (LCDI) into the 2020-2024 National Medium-Term Development Plan (RPJMN). This is stated in the national development agenda, titled “Building the Environment, Improving Disaster Resilience, and Climate Change” through Presidential Regulation No. 18 […]