RMI’s objective for Readiness II is to strengthen national and sub-regional (North Pacific) mechanisms to increase engagement with the Green Climate Fund. Under Readiness II, RMI seeks to:
1. Continue strengthening the capacity of the NDA in particular to, embed new systems introduced under Readiness I that have yet to be implemented; Enhance visibility of climate change projects to be made available and kept up-to-date on RMI’s online data portal and Build NDA office and TTEC members knowledge and skills in project management and climate finance management to be effective in their roles (Outcome 1.1).
2. Progress the Ministry of Finance to prepare for national direct access entity accreditation, building on rapid assessment work undertaken in 2019 and strengthening independence and country ownership to lead on climate finance management activities (Outcome 1.2).
3. Develop and strengthen strategic frameworks under RMI’s Climate Change Directorate to plan the mobilisation and sustainability of resources for delivering on its mandate including on climate finance and (Outcome 2.2).
4. Progress new project ideas scoped under Readiness I and develop project concept(s) aligned with the Country Programme (Outcome 4.1).
Readiness II also seeks to develop two new areas to support RMI with accessing climate finance:
5. Strengthening the capacity of the Regional Direct Access Entity – SPREP - to support RMI and north Pacific sub-region Pacific Island Countries (PICs) to increase engagements with regional Accredited Entities to access climate finance (Outcome 1.2).
6. Document and share best practices and lessons learned from Readiness and related climate finance activities to support RMI and other Pacific Island countries in the sub-region and further afield to enhance climate finance management practices and development/implementation of projects (Outcome 5.1).
The beneficiaries of the project are the stakeholders within the RMI’s internal governance mechanism, TTEC, which includes committee and subcommittee members such as the NDA and staff; the Government of Marshall Islands Ministry of Finance, SPREP as a regional accredited entity and NDAs in the north Pacific sub-region.
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