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Green Climate Fund

Green Climate #MEDD #Environnement #Climat #Madagascar #ChangementClimatique #DéveloppementDurable #MyMadagascar #MahajangaMaVille Fund

Green Climate Fund

Madagascar prepares the launch of the national accreditation process for the Green Climate Fund (FVC). The latter represents the largest global climate fund with a total portfolio of 19 billion USD in 2020.

For the Environment and Sustainable Development in Madagascar

Through the Ministry of the Environment and Sustainable Development (MEDD), the Malagasy government officially launched its Madagascar capacity building program last July.

The objective being that the country can put in place all appropriate mechanisms to collaborate effectively with the Green Climate Fund (FVC).

This fund was set up within the framework of the United Nations Framework Convention on Climate Change (UNFCCC). With a total financing portfolio amounting to 19 billion USD in 2020, today it represents the largest global climate fund.

This preparatory stage, also called « Readiness Program » is implemented with the support of the United Nations Environment Program (UNEP). It must result in the validation of a “Country Program” by January 2021.

This “Country Program” will structure Madagascar’s priority projects and programs in the fight against climate change, in line with the GCF investment criteria as well as national priorities.

Expected involvement of the private sector

Collaboration with the private sector is a key element of the Fund. And it occupies a transversal aspect of all its operations in terms of accreditation, portfolio development and management.

Indeed, The GCF aims to promote a paradigm shift towards low-carbon and climate-resilient development pathways.

The current process comes at a time when more and more actors in the Malagasy private sector are not only grasping the urgency of responding to climate change, but also the opportunities offered by the GCF financing instruments to drive sustainable and resilient investments.

It should also be noted that, more and more Malagasy companies are today concerned about protecting their production systems from the risks and disruptions presented by increasingly frequent extreme weather events and inherent climate changes..

Partnerships and collaborations

The GCF provides for eight strategic areas of investment. Including :

  • production and access to energy,
  • transport,
  • the buildings, cities, industries and equipment,
  • forests and land use,
  • health, food security and water quality,
  • community livelihoods,
  • infrastructure and construction,
  • and finally ecosystems and ecosystem services.

According to its promoters, it is possible to collaborate with the GCF. It is possible, either by co-financing risk-free investments; either by benefiting from the Fund (in the form of grants, loans, capital contributions, guarantees) through accredited entities. Or by applying for the national accreditation process.

Private sector players as well as financial institutions and specialized financial establishments will soon be invited to online round tables for more details on the Green Climate Fund.

(Source : Noon Madagasikara 20/08/20)

May this precious and special Malagasy biodiversity be preserved !

Indeed, Madagascar is a true sanctuary of nature. It has the distinction of having one of the highest rates of endemism in the world.. Its isolation and the variety of its climates and reliefs have caused the fauna and flora to evolve in a unique way over the centuries..

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Our team will have the great pleasure of welcoming you, and to help you discover Madagascar and its biodiversity.

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