Belize receives funds for climate-resilient infrastructure
The Belize authorities says it has acquired assist from the Inexperienced Local weather Fund (GCF) for a venture geared toward constructing capability for local weather resilient infrastructure and sustainable city land administration and strengthening the capability of the Ministry of Financial Improvement (MED) for pre-accreditation to the GCF.
In an announcement, the MED, which is Belize’s Nationwide Designated Authority (NDA) to the GCF, mentioned the BZ$1.9 million (One Belize greenback=US$0.50 cents) grant “is to additional tackle three main gaps recognized in a earlier initiative that can allow MED to turn out to be a Direct Entry Entity to the GCF”.
In accordance with the MED, the three precedence areas are venture administration insurance policies and requirements to be developed and institutionalized on the MED, strategic plan for the MED to be developed and validated; and environmental, social and gender administration framework to be developed and applied.
– Commercial –
“Having these gaps addressed, the MED might be one step nearer to strengthening its inside buildings in assembly GCF’s necessities to entry local weather finance of as much as US$50 million.
“As well as, the Ministry of Infrastructure Improvement and Housing (MIDH) and the Belize Affiliation of Planners (BAP) can even obtain assist to strengthen the inter-institutional coordination mechanism and to establish and prioritize acceptable local weather expertise options for local weather adaptation and mitigation. They’re additionally anticipated to draft the regulatory framework for sustainable city land administration and resilient infrastructure,” the MED mentioned.
It mentioned the Protected Areas Conservation Belief (PACT), because the supply companion, might be accountable for the implementation of the venture, with assist from MED, MIDH and BAP because the lead entities.
Chief government officer within the Ministry of Financial Improvement, Dr. Osmond Martinez, mentioned the Belize authorities stays agency in its technique to entry local weather finance to handle the local weather change impacts on Belize.
CMC/