Climate Change Finance
The ClimaSouth project assists partner countries in accessing the various finance mechanisms under the UNFCCC to support low carbon development and resilience to climate change. This will be achieved by building existing capacities of National Implementing Entities (NIE) to comply with the requirement of the Adaptation Fund or the Climate Investment Funds (CIFs). Other potential sources of financing will also be targeted such as National Mutual Funds or Investment and Development Banks which could provide financial engineering services or mobilize complementary resources. ClimaSouth is aiming to enhance the institutional credibility of those entities though the establishment of audit, monitoring and evaluation protocols. The project will support the Ministries for Economy, Planning and Finance of partner countries in order to build their understanding and capability to identify and implement relevant projects that mainstream climate change.
Supporting climate finance
The ClimaSouth project will facilitate the development of climate finance support by assisting with the application process through the preparation of required documentation, the marketing and promotion of plans to seek finance and by providing support during financing negotiations. The precise plans and finance mechanism concerned will be determined in cooperation with the beneficiaries. Successful results will be disseminated to all partner countries.