The proposed readiness delivers the framework, for the establishment, operationalization and capitalization of a National Financing Vehicle (NFV) in Dominica and delivers demand-led capacity building training to state and non-state actors to ensure the effective management of the NFV. The NFV mission is to increase private sector investments in renewable energy and energy efficiency (RE and EE) technology by adjusting the risk/return profile of investment opportunities by offering concessional finance to priority climate change adaptation and mitigation projects.

The objectives of the NFV are to increase:

• The use of viable RE and EE technologies in Dominica, in order to decrease energy costs of the population
• The country’s energy security by reducing its dependency on imported fossil fuels
• Climate change mitigation by reducing GHG emissions
• Climate resilience by providing a pathway toward financing distributed energy generation projects
• Dominica’s transition to Low Carbon pathway as articulated in the Low Carbon Climate Resilience Development Strategy
• Facilitation of Investment Opportunities in Dominica’s Blue Economy Masterplan designed to address the Climate Resilient Development Pathway of the Low Carbon Climate Resilient Development Strategy
• Capacity to originate, design, structure and bring to finance sustainable RE, EE, geothermal industrial park (GEIP) and transport projects.