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 • August 30, 2019
ULAANBAATAR, MONGOLIA Aug 23, 2018 GGGI Mongolia organized a Stakeholder consultation meeting on Agriculture sector GHG emission pathway assessment in Mongolia on Aug 23, 2019. The main objective of the meeting was to conduct sectoral consultation meetings, with support of MET, MOFALI and ECF, to introduce project concepts on policy improvement for climate change mitigation […]
News • August 28, 2019
Seoul, August 28, 2019 – The Global Green Growth Institute (GGGI) welcomed the Government of Uganda (GoU) as its thirty-third Member, committing to support the country in achieving its Nationally Determined Contribution (NDC) and implementing its National Adaptation Plan. GoU sought for GGGI’s membership in 2015 by signing/submitting a letter of intent to support the […]
News • February 14, 2019
The 3rd National Urban Forum held in Kigali, Rwanda from February 6-7 was organized by the Ministry of Infrastructure with partner organizations UN-Habitat, World Bank, GGGI, Enabel – Belgium Development Agency, Swiss Agency for Development and Cooperation (SDC) and International Growth Center (IGC). The gathering set up to evaluate what has previously been done in […]
News • August 21, 2019
South Tarawa, Kiribati, June 20, 2019 – The Global Green Growth Institute (GGGI) and the Ministry of Environment, Lands and Agriculture Development (MELAD) endorsed the Kiribati Country Planning Framework 2019-2023. GGGI began the development of its Country Planning Framework (2019-2023) in 2018, following the signing of a Host Country Agreement with the Government of Kiribati. […]