Readiness Support to Access Finance for the Democratic Republic of Congo (Area 4)
Readiness Support to Access Finance for the Democratic Republic of Congo (Area 4)
As a result of COP21, the Democratic Republic of the Congo committed to reduce its Greenhouse Gas (GHG) emissions by 17 percent from 2021 to 2030 in its Nationally Determined Contributions (NDC). In order to achieve this result, and to also target the adaptation needs of the country, the Democratic Republic of the Congo indicated in its NDC the need to mobilize USD 21 billions of global climate finance for adaptation and mitigation. To better cope with climate change impacts (temperature variabilities, increasing sea level, increasing evapotranspiration), the Democratic Republic of the Congo needs to better coordinate its access to climate finance. This Readiness proposal will help tackle: i) no adequate M&E system to track climate finance flows; ii) absence of a climate finance strategy and planning to implement the priority interventions identified in the country programme at national level iii) absence planning to scale up interventions, in particular on climate resilience agriculture. This Readiness proposal will help also start building capacity on climate finance access and best financial instruments available.