FDB close to obtaining Green Climate Funds
May 28, 2018 7:39 pm
The Fiji Development Bank is nearing completion of meeting the conditions of the accreditation process of obtaining funds from the Green Climate Fund.
In 2015 the government nominated the FBD as a direct national accredited entity through which the Green Climate funds can be channeled.
Speaking to FBC News, Mark Clough says there are a number of prerequisites which are needed to be met in order to be tagged as a nationally accredited entity.
Clough says as the Bank nears the completion of the requirements, possible projects which require funding have been identified.
“The projects are related to the transport sector particularly making vehicles more efficient. The other project identified is in the housing sector – focusing on resilience. Part of the GCF is not reducing power consumption but
particularly for Fiji, it’s also about making us more resilient to climate events such as floods and cyclones.”
Clough says these projects are aimed at not only benefitting Fiji’s economy but that of other Pacific Island countries.
He adds the FDB has been working closely with the Economy Ministry, Asian Development Bank, the World Bank, US Aid and a few United Nations arms to assist in meeting the requirements of the accreditation.
The Green Climate Fund is a fund established within the framework of the UNFCCC to assist developing countries in adaptation and mitigation practices to counter climate change.