Pacific Summary - Green Climate Fund 21st Meeting of the Board
17 – 20 October 2018,
Approved projects - Pacific
The following projects were approved at B.21:
FP090: Tonga Renewable Energy Project under the Pacific Islands Renewable Energy Investment Program, Tonga (Accredited Entity – Asian Development Bank)
The Tonga Renewable Energy Project is the second project to be submitted under the Pacific Islands Renewable Energy Investment Program. It will build upon the first two phases of the Tonga Energy Road Map 2010-2020, helping Tonga meet its Nationally Designated Contribution (NDC) target. The program will support a move away from the traditional reliance on fossil fuels toward a greater emphasis on climate-resilient renewable energy systems coupled with battery energy storage system and reduced GHG emissions as well as promotion of more private section investments into renewable energy development.
For more information: https://www.greenclimate.fund/documents/20182/1270184/GCF_B.21_10_Add.09_-_Consideration_of_funding_proposals_-_Addendum_IX_Funding_proposal_package_for_FP090.pdf/87cd5488-b3ef-8a23-bf45-79db921ff9cf
FP091: South Tarawa Water Supply Project, Kiribati (Accredited Entity - Asian Development Bank)
The project will address factors resulting in the high incidence of waterborne disease in South Tarawa through the delivery and effective management of new and rehabilitated climate-resilient water supply assets and improved hygiene practices.
For more information: https://www.greenclimate.fund/documents/20182/1270184/GCF_B.21_10_Add.31_Rev.01_-_Consideration_of_funding_proposals_-_Addendum_XXXI__Response_of_the_AE_to_the_independent_Technical_Advisory_Panel_s_assessments.pdf/85d6f3a9-c6fd-290a-8c6c-198796b55022
Approved accreditation proposals – Pacific
The following entities were accredited at B.21:
APL064: Ministry of Finance and Economic Management, Cook Islands.
The Ministry of Finance and Economic Management (MFEM) of the Cook Islands, is a national entity whose core mandate is to advise the government of the country on economic, fiscal and financial issues. The applicant’s scope of work and functions have implications across all sectors of the government, such as economic development, business management, climate change, natural resources, infrastructure, transportation, energy, agriculture and tourism.
Other Pacific-relevant news
During the meeting the Board initiated the process of GCF’s first formal funding replenishment to replace the ad hoc resource mobilisation process from its inception.
In total the Board approved 16 new Accredited Entities totalling 75, with a notable 41 being direct access entities.
The B.22 GCF Board meeting will be held at GCF Headquarters in Songdo, Incheon, Korea from the 26-28 February 2019.
For access to an independent overview of substantive points of action from GCF B21, please refer to the Climate Finance Advisory Service (CFAS) Briefing.