This proposed readiness grant is informed through an internal assessment and recommendation kof the MED (primarily using the GCF Self-Assessment Tool) and a gap assessment and action plan conducted through a previous GCF readiness grant. The current readiness grant will provide technical support to strengthen the operational policies of MED to enable its compliance with GCF accreditation requirements.

The objective of this Readiness is to address remaining institutional gaps for MED against the GCF’s accreditation standards, which inhibit Belize’s ability to fully access more climate finance from entities such as the GCF. Through this Readiness grant, the MED will be better positioned to seek GCF accreditation in an effort to access more direct climate finance for the country. In doing so, Belize will increase its national capacity to access finance for resilience building and to further its climate agenda, as outlined in the Nationally Determined Contribution (NDC), the National Climate Change Policy Strategy and Action Plan (NCCPSAP), Belize’s Country Programme for engagement with the Green Climate Fund 2022, Plan Belize – Medium Term Development Strategy 2022-2026 and Horizon 2030. The project will do so through two of the GCF’s five readiness objectives:

(1) Objective 1: Capacity Building - GCF recipient countries and relevant stakeholders set up adequate systems – human, technical and institutional – that enable them to fulfil their roles and responsibilities towards the GCF and enhance their ability to achieve their objectives; and

(5) Objective 5: Knowledge sharing and learning - GCF recipient countries have benefited from increased levels of awareness, knowledge sharing and learning that contribute to their developing and implementing transformational projects in low-carbon and climate-resilient development pathways.