Enabling direct access to the Green Climate Fund for climate finance for Cabo Verde

Cabo Verde is working to improve its direct access to climate finance, in particular from the Green Climate Fund. The ability to access climate finance is a key factor in the success of the green and inclusive growth of the country's climate programme.

To this end, the Ministry of Finance, Cabo Verde's designated national authority, wishes to embark on a preparation process to enable a national entity to be approved as a Direct Access Entity, accredited to the Green Climate Fund.

The Ministry of Finance has selected LuxDev as its implementation partner to carry out the activities set out in the Readiness Proposal and thereby accelerate the implementation of the objectives of the Paris Agreement – namely to foster climate resilience and low greenhouse gas emission development – by preparing for a transformational impact in a small island developing state.

The readiness proposal aims to increase country ownership by delivering the first national accreditation of a direct access entity. Through readiness support, a capacity development programme for the staff of the future Direct Access Entity, relevant government institutions, civil society and private sector organisations can be implemented and the development of a pipeline of Green Climate Fund eligible projects can be supported. This approach will also enhance the development of the adaptation project pipeline in the water and agriculture sectors. The concept notes developed will be aligned with the national programme developed by the United Nations Industrial Development Organization and the work that the Food and Agriculture Organization of the United Nations is doing in the country as part of its ongoing preparation proposals.

This project is funded by the Green Climate Fund, a financial mechanism of the United Nations.