BAKU, Azerbaijan, Oct. 5
By Nargiz Sadikhova - Trend:
Green Climate Fund (GCF) is currently co-developing another Readiness Program in Kazakhstan which will be delivered by a national/local entity, Urvaksh Patel, GCF Regional Manager for Eastern Europe and Central Asia told Trend.
GCF's Readiness Program provides resources for countries to efficiently engage with GCF.
Patel noted that GCF has so far financed two investments and two Readiness Programs in Kazakhstan totaling approximately $150 million.
“Furthermore, there have been initial discussions on providing GCF Readiness Program support to develop green banking and green bonds platforms and policies to help accelerate further investment into greener projects in the country. We are keen to support a national entity to be accredited in order to support direct access to GCF resources,” Patel said.
Patel noted that last year, GCF hosted a large delegation of government and private sector officials from Kazakhstan at its headquarters in Songdo, Incheon, South Korea.
“The engagement furthered our cooperation and built momentum to support Kazakhstan in programming an ambitious pipeline of green and climate resilient activities with GCF. Our regional team is in constant contact with the country’s National Designated Authority – the Ministry of Ecology, Geology and Natural Resources of the Republic of Kazakhstan – as well as other stakeholders to support the country in realizing its climate action goals,” Patel added.
GCF is a global platform to respond to climate change by investing in low-emission and climate-resilient development. GCF was established by 194 governments to limit or reduce greenhouse gas (GHG) emissions in developing countries, and to help vulnerable societies adapt to the unavoidable impacts of climate change.
Given the urgency and seriousness of this challenge, GCF is mandated to make an ambitious contribution to the united global response to climate change.
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