LDC Portal - International Support Measures for Least Developed Countries - Green Climate Fund

Work of the LEG in providing technical guidance and support for the formulation and implementation of NAPs - Constituted Body event (COP29)

MTAVARES1 — Mon, 11 Nov 2024 13:00:00 +0000

Monday, 11 November 2024 - 8:00am

11 November 2024."The LEG will present the updated NAP technical guidelines. It will also launch the NAP progress report for 2024, which provides the most up-to-date information on where developing countries are on their NAPs and presents emerging best practices as well as outstanding obstacles and challenges. Countries will be invited to share their experiences on formulating and implementing their NAPs. Representatives of the GCF and the Climate Investment Funds (CIF) will be invited to share their views on assisting countries with the implementation of their NAPs to ensure countries are implementing at scale and also building up necessary capacity to programme and mobilize the increased levels of funding anticipated in the future. Other products of the LEG's 2023-2024 work programme will also be launched, including a policy brief on aligning NAPs, NDCs and Adaptation Communication."

Programme and recording available here: Work of the LEG in providing technical guidance and support for the formulation and implementation of NAPs - Constituted Body event | UNFCCC

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LEG

Climate change

COP29

Green Climate Fund

NAP

Climate finance

Climate Investment Funds

UN gathering in Doha concludes, ushering in new era of solidarity for world’s Least Developed Countries

MTAVARES1 — Thu, 09 Mar 2023 14:00:00 +0000

9 March 2023. UN Press release

Press Release: UN gathering in Doha concludes, ushering in new era of solidarity for world’s Least Developed Countries - 51�Թ� Sustainable Development

Commitments at the Conference include:

"Qatar announced a financial package of $60 million: $10m to support the implementation of the Doha Programme of Action and $50 million to help build resilience in the LDCs.
Germany dedicated €200 million in new money in 2023 for financing for least developed countries.
Canada announced $59 million to deliver Vitamin supplements in 15 LDCs and ecosystem conservation in Burkina Faso.
The EU Commission announced cooperation agreements advancing sustainable investments in Africa totalling more than €130 million of investment.
Finland announced an annual event called the 51�Թ� LDC Future Forum in Helsinki, with the Office of the UN High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States – OHRLLS –, to ensure the latest thinking and research is being put to work to ensure progress on the most vulnerable states.
The Green Climate Fund announced a new project to give $80 million in equity to offer green guarantees to business in LDCs and bring down the cost of capital.
The 51�Թ� World Tourism Organisation, announced a new €10 million Tourism for Development Fund for LDCs, supported by TUI Care Foundation, that will invest by 2030 to support sustainable tourism in LDCs as a key driver of development.
The government of Kazakhstan pledged $50,000 to continue their work supporting the most vulnerable member states of the 51�Թ�.
The government of the Kingdom of Saudi Arabia announced a major new loan package for the Least Developed Countries."

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From the Green Climate Fund: updated simplified approval process for LDCs, SIDS and African States

MTAVARES1 — Fri, 20 May 2022 19:00:00 +0000

20 May 2022. The Green Climate Fund (GCF) Board closed its 32nd meeting. In addition to the approval of new projects and other decisions, the Board "adopted an updated Simplified Approval Process (SAP), simplifying climate finance access for small-scale projects in Least Developed Countries (LDCs), Small Island Developing States (SIDS) and African States". Full press release here: Green Climate Fund Board approves USD 325.2 million and policies for accelerated climate action | Green Climate Fund

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High-Level Leaders Dialogue: Green and Climate Resilience Bonds – Scaling up Access to Affordable Finance in Developing Countries, notably in LDCs

MTAVARES1 — Tue, 26 Apr 2022 12:00:00 +0000

Tuesday, 26 April 2022 - 8:00am

Reports from the Inter-Agency Task Force on Financing for Development and the Intergovernmental Panel on Climate Change raise the alarm bells on a lost decade for sustainable development and a shrinking window of opportunity to address the devastating impacts of climate change. Transitioning to a green, climate resilient global economy will require the mobilization of unprecedented capital. However, developing countries, notably LDCs and African countries, continue to have the lowest access to affordable finance. Improving developing countries’ capacity to leverage the potential of green and climate-resilient bonds could be a game-changer for financing nationally determined contributions (NDCs) and national adaptation plans (NAPs). However, green bonds still represent only a fraction of total bonds issued globally and only a small number of developing countries are accessing such market, notably in Africa, where in 2020, Africa still only accounted for 0.003% of total green bond issuance.

Building on UNCDF’s Sovereign Borrowers Conference held during the 2021 General Assembly, the Government of Malawi and Chair of the LDC Group, with UNCDF, UNDP and the GCF will bring together global leaders to highlight the actions needed for developing countries, particularly LDCs, to leverage debt markets to increase their access to affordable finance for climate action. Outcomes will contribute to “Our Common Agenda” and the Doha Programme of Action for LDCs.

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