“The meeting that brings us together today will allow you to familiarize yourself with the preparatory activities to access this fund, but also to see how to contribute to the objective of this financial system, the change of trajectory to increase resilience of Senegal, the communities and the territories and to have a low greenhouse emissions strategy while being favourable to economic growth,” said Mme Ndiaye when opening the launching workshop on Monday.
The Green Climate Fund is a financial mechanism put in place by the United Nations Framework Convention on Climate Change (UNFCCC) to back the Paris Agreement in financing the transition of developing countries.
A financial commitment to the tune of 100 billion dollars by developed countries is expected by 2020, from public and private sectors, to fund the mitigation and adaptation projects in developing countries.
This Fund should be the main mobilizer of public funding, as well as private funds to fight against climate change, while promoting a paradigm shift in development trajectories and by modifying fundamentally the operating modes of financing for the climate programme.
Access to the Green Climate Fund is a lever to further increase the impact of developed country actions toward developing countries, and to support the involvement of the private sector in the creation of development models more resilient to the effects of climate change.
At present, the FVC is only funded at 10.1 billion dollars for the period 2015-2018, with only 2.2 billion dollars aimed at covering the period between 2015 and 2017 for the expediting of 43 projects.
TE/od/pn/afm/APA
