Jun 23, 2017

Cook Islands Leads Way With $700,000 In Readiness Funding From Green Climate Fund

written by Tina Baumgartner
in category Uncategorized

The government has been approved approximately US$700,000 ($965,000) from the Green Climate Fund to carry out readiness activities for 24 months.

In a joint announcement with the Green Climate Fund National Designated Authority (NDA), the government said it was extremely pleased about the funding.

The Cook Islands was the first country in the Pacific region and the first Small Island Developing State to receive readiness funding to strengthen capacity to access finance through GCF in March 2016.

The Cook Islands was granted readiness funding of US$150,000 last year to carry out activities to strengthen the capacity of government agencies. The readiness programme supported two local consultancy roles, the NDA consultant within the Office of the Prime Minister and the Climate Change programme manager within the Development Co-ordination division of the Ministry of Finance and Economic Management.

The Green Climate Fund provides early support for readiness and preparatory activities to strengthen a country’s engagement with the fund. It focuses its readiness support on particularly vulnerable countries, including Least Developed Countries (LDCs), Small Island Developing States (SIDS), and African states.

The Development Co-ordination Division of MFEM has been working with the Climate Change Cook Islands division of OPM on this second readiness programme since September 2016 and was happy to receive confirmation that the second Readiness Project has now been approved. That will develop strategic frameworks for engagement with the GCF, including the preparation of country programmes and progress towards Direct Access accreditation and programme development.

The process has been challenging, however it has been a good opportunity to build capacity and familiarisation with GCF processes.

The activities under the second readiness programme will look to continue to build capacity and strengthen the NDA, strengthen national systems to assist the MFEM in becoming accredited to the Green Climate Fund and finally to develop Cook Islands develop a County Programme of climate change proposal ideas.

MFEM is also pleased to announce that a formal National Implementing Entity accreditation application has been submitted to the Green Climate Fund for consideration.  Direct access to climate finance remains a high priority for the government.

The Cook Islands government wishes to extend its appreciation and gratitude to the Green Climate Fund secretariat for continuing to support the nation in its journey to become an accredited entity.

Published by the Ministry of Finance and Economic Management Rarotonga, Cook Islands on June 22, 2017, submitted by PIR