Country Profile and Projects

Country profile:

The country profile of Belize on the GCF website provides information on the country’s engagement with the GCF, including current readiness activities, projects and concept notes submitted to the Fund: https://www.greenclimate.fund/countries/-/country-profiles/belize

 

Readiness activities:

“GCF Readiness Preparation Support Project for the Enhancement of Belize’s Capacity to Access and Deliver International Climate Finance through Targeted Institutional Strengthening”

Start: February 2018

Status: Ongoing

The Government of Belize and the Caribbean Community Climate Change Centre (CCCCC) have received funding from the GCF to implement the project “GCF Readiness Preparation Support Project for the Enhancement of Belize’s Capacity to Access and Deliver International Climate Finance through Targeted Institutional Strengthening”. The project aims to strengthen the institutional capacities of the GCF’s NDA to facilitate efficient planning and administration of its fund-related responsibilities.

Group of key stakeholders involved in a training session under the Readiness Project. Belmopan, July 2018.

Projects:

“Catalysing private sector investment for renewable energy and energy efficiency projects across the developing world”

Impact: Mitigation

Location: Latin America and the Caribbean, Africa, Eastern Europe, Asia-Pacific – including Belize

Status: approved in April 2017

Accredited Entity: European Investment Bank (EIB)

Access Modality: INTERNATIONAL

Executing Entity: GEEREF NeXt; Specialised funds selected

Description: GEEREF NeXt is structured as a fund of funds, with the aim of being a first investor (anchor investor) in renewable energy/ energy efficiency (RE / EE) investment funds, and encouraging other investors to co-invest. Catalyzed by the GCF funding, GEEREF NeXt offers risk-averse private investors a broad diversification of capital across different projects and technologies in developing countries.

GEEREF NeXt will operate either indirectly via specialised funds, or directly via investments into the beneficiary projects themselves. GEEREF NeXt is expected to finance more than 200 RE/EE projects through the course of its fifteen year lifespan. GEEREF NeXt will provide the long-term and patient capital which is essential to bring RE/EE projects from early development to full operations. It will build on the success of its predecessor fund, the Global Energy Efficiency and Renewable Energy Fund (GEEREF). GEEREF NeXt will build capacity and track records of local fund managers in developing countries, which will help turn RE/EE investment into a mainstream asset class for institutional investors. The project has an estimated lifespan of 15 years.