Friday, February 23, 2024
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NZ provides $27M for principal climate projects

Cabinet has approved the Country Flexible Finance Partnership Arrangement with the Ministry of Foreign Affairs and Trade of the Government of New Zealand.

The Partnership Arrangement is for climate finance grant funding amounting to approximately $27.4 million for climate ‘principal’ projects.

A climate ‘principal’ activity is an activity which explicitly states that climate change mitigation or adaptation is fundamental to the design of, or the motivation for, the activity.

Additionally, an activity can also be marked as climate ‘principal’ if it is primarily designed to build capacity and develop tools to integrate climate change into national and sub-national policies, planning and investment frameworks.

Apart from the grant funding of $27m, the Partnership Arrangement is also designed to support the Fiji Government in its ambition to scale up climate action, through access to capacity support.

This includes support to strengthen or expand public finance management processes for accessing, managing and reporting climate finance, supplement resources to support the public service to deliver increased climate finance, and provide technical assistance or meet additional requests as decided by the Partners.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com

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