In 2015, the 30th Council of Ministers of IOC requested that the Secretariat seeks accreditation to the GCF (decision 21b) and reiterate the request in February 2016 at the 31th Council of Minister (decision 10). Disbursement of climate finance through the IOC is particularly important because of the limited absorptive capacity experienced by the region and its members states countries, re‐ stricting their ability to prepare and implement climate change projects. It should also be recog‐ nized that most SIDS present in the region are middle‐income countries (amongst which some are highly indebted countries) excluding them from certain sources of funding, despite the fact that climate vulnerability threatens to reverse economic gains.

Although the regional delivery of climate finance should not be a substitute for national mechanisms and in particular, country’s direct access as National Implementing Entities (NIEs), the use of Regional Implementing Entities (RIEs) is increasingly viewed as a complementary and effective way to leverage additional resources for member countries. IOC’s Readiness program is a complete pack that will support IOC’s accreditation process, IOC’s project development and direct support to countries member states to provide tailor‐made support for national entities accreditation and project development.