Fit for Funds for developing countries

Major barriers to climate finance in many developing countries is not the supply of funds, but the insufficient demand for attractive low- carbon projects and the national capacity to absorb and use the funds.

The 'Fit for Funds' programme helps developing countries access funding and assist with preparations to plan, finance and implement climate change projects and actions.

This programme is coordinated by the Frankfurt School – United Nations Environment Programme Collaborating Centre and is supported by the Government of Germany and several technical partners.

A team from the 'Fit for Funds' initiative visited the Secretariat of the Pacific Regional Environment Programme (SPREP) in April in the context of the Adaptation Fund meeting held in Apia.

One of the major objectives of the programme helps build capacity with a strong focus on institutional and operational capacities and development.

A status quo assessment was conducted at SPREP to identify appropriate training or technical assistance that will help strengthen existing skills but will also help identify SPREP's major challenges when applying for direct access to climate funds and facilitating respective finances.

SPREP is currently in discussions with the team on the development of a capacity building plan, to help further strengthen the monitoring and evaluation framework; the project development and design process; assist with reviews of procedures and regulations; as well as providing inputs to the design of prototype trust fund designs.

SPREP will then be better placed to provide services to the region in the form of project development and management support, as well as providing advice on requirements for direct access.

The approach is to tailor needs in the region to the requirements for fiduciary standards and good project management that fit the provisions for various funding opportunities such as the Kyoto Protocol Adaptation Fund, the Global Environment Facility and others.

For more information contact Dr Netatua Pelesikoti at [email protected]