Wednesday, May 29, 2024
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FDB to develop GCF proposal

Fiji Development Bank (FDB) chief executive Saud Minam says the bank aims to develop a proposal in collaboration with the private sector for submission to the Green Climate Fund (GCF) for consideration.

Minam highlighted this during the Private Sector Consultation yesterday.

“This proposal aims to secure funding to support projects that significantly reduce carbon emissions and promote adaptation activities, contributing to Fiji’s Nationally Determined Contributions.”

He heartly thanked the private sector organisations, the Ministry of Environment, the Private Financing Advisory Network (PFAN) and the Secretariat of the Pacific Regional Environment Programme for their valuable participation in this significant dialogue.

USAID Deputy Development Advisor, Patrick Bowers lauded the ongoing partnership with FDB, expressing interest to continue with collaboration to identify a project concept with the private sector.

“This process is quite a lengthy one and the concept idea will need to be placed in the FDB plan and then the Fiji country programme before it can be submitted to the Green Climate Fund as a concept.”

“USAID is interested to learn more about this process of accessing climate finance from the climate finance organisations as the U.S. is currently one of the co-chairs of the Green Climate Fund Board and it is always good to provide them with practical experiences of what countries have to do to access this finance.”

Bowers looks forward to the final result of the Green Climate Fund-funded project being implemented here in Fiji by the FDB with the private sector as beneficiaries.

The consultation provided FDB with the platform to get ideas from various business sectors around the country on the appetite for greening business operations and how these ideas can be aggregated up by sector and developed into a proposal.

Artika Ram
Artika Ram
Cadet Journalist | news@fijilive.com

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