PROJECT DESCRIPTION
The Green Climate Fund (GCF) is the operating entity of the financial mechanism of The United Nations Framework Convention on Climate Change (UNFCCC). GCF’s goal is to help countries like Indonesia fill its financial gap and achieve its National Determined Contribution (NDC) targets to reduce greenhouse gas (GHG) emissions by 2030.
Through the Readiness Program, GCF aids developing countries by providing grants and technical support to strengthen the government’s institutional capacities, governance, and climate action planning, as well as enhancing access to climate financing. The Indonesia Ministry of Finance’s Fiscal Policy Agency, which acts as Indonesia’s National Designated Authority (NDA) for GCF, is the main implementing partner of the GCF Readiness Program.
GGGI, as a Delivery Partner, has been supporting the Fiscal Policy Agency since 2019. The program has entered its third phase, which focuses on enhancing Indonesia’s access to international climate finance and private sector investment for climate actions. As the focal point between the GCF and the country, the NDA ensures the implementation of the GCF’s country ownership principles in its funding mechanism. The NDA also ensures that AEs (Accredited Entities) & DAEs (Direct Access Entities) can manage the finances effectively and safeguard GCF-funded projects.
ADDITIONAL INFORMATION
For more information: https://gggi.org/?project=green-climate-fund-readiness-iii-program-enhancing-indonesias-access-to-international-climate-finance-private-sector-investments-for-climate-actions