Virtual Validation Workshop on GCF Private Sector Climate Finance Platform in Côte d’Ivoire

On September 30, the Global Green Growth Institute (GGGI) and the Ministry of Environment and Sustainable Development (MINEDD), under the Green Climate Fund (GCF) readiness program, organized the virtual validation workshop on National GCF Platform in Côte d’Ivoire, which consisted of the establishment of a platform with the NDA as the coordinating body that shares the Country Programme priority areas with AEs and other partners

This virtual workshop was held with the participation of about twenty five people grouped between the following actors: Private sector association; Public Institutions (PI); Entities Accredited (EA) to Green Climate Funds; Entities Accredited (EA) to other Climate Funds (EA) including the Green Climate Fund; Other Technical and Financial Partners (PTF).

The objective of the workshop was to validate the platform toolkit: to present to stakeholders the functional architecture, the missions, and the attributions of the platform and the two-year action plan; and to present perspectives for the launch of the platform’s activities.

Recognizing the challenge of financing Côte d’Ivoire’s climate change mitigation and adaptation actions, the Government of Côte d’Ivoire has initiated and implemented programs to access climate finance and mobilize investments in climate projects, including capacity building to engage effectively with the GCF over the long- term.

The country, through the Ministry of Environment and Sustainable Development, received a grant from the Green Climate Fund (GCF) to undertake an eighteen-month readiness program in partnership with GGGI. This Readiness project aims to improve Côte d’Ivoire’s access to GCF by supporting the accreditation of a national direct access entity (DAE) – Banque National d’Investissement (BNI). This project will identify the capacity building needs of the candidate for accreditation, in collaboration with key government entities, to increase their capacity to prepare and manage climate change projects. Also, the project will support the development of a national financial resource mobilization strategy with a focus on climate finance to identify financing options, including recommendations on mobilizing private sector investment for priority climate actions.

GGGI is assisting the Republic of Côte d’Ivoire to adopt the transition model for green growth (aligned with and beyond the scope of this GCF Readiness project), by supporting the management of the implementation of strategic projects and programs. This Readiness project also aims to support the private sector in developing projects and increase investment in climate change. Private investors are not only important for their role in financing climate change mitigation and adaptation in Côte d’Ivoire, but also for the information and insights they can provide, as well as the expertise and agility they can bring to project development and implementation. This project will, therefore, ensure the engagement of the private sector, and enable private sector project development for potential funding from Green Climate Fund .

The platform toolkit ( charter, concept note and lexicon) was developed after stakeholders consultations by the coordinating team of the GCF GGGI readiness project in Côte d’Ivoire.

The workshop opened with speeches from the Lead Project Coordinator, Dr Nicaise AMAN, follow by Dr. Malle FOFANA, GGGI Country Representative and Lead of Côte d’Ivoire Operations.

A presentation was also made by the climate finance expert of the project, Mr. Alpha DIALLO. Following the presentation, recommendations were made by the participants to be taken into account for the completion of the concept note. After having collected the recommendations from the participants to finalize the concept note, GGGI representative invited all stakeholders to be active in the operationalization of the platform.