This Readiness proposal aims to support the direct access process in Albania, develop a roadmap for financial sector engagement, and further strengthen the National Designated Authority (NDA):

• Strengthen the NDA outreach and visibility. The proposal will set up and facilitate a forum for information, transparency, and synergy creation in the field of Climate related projects. It will further strengthen capacities of the NDA to fulfil its role as the main communication point on Green Climate Fund (GCF) matters in the country by developing an information disclosure strategy and online platform. Complemented by a training of media representatives/journalists on climate change and its development impacts, this will help disseminate information on the GCF process as well as have a broader outreach on the country’s climate agenda and priorities for financing low-emission and climate-resilient development.
• Support direct access process in Albania. Direct access is one of the key identified readiness support priorities for Albania. The proposal intends to support the NDA in identifying the most suitable entity for direct access nomination, supporting this entity in the application process and capacitating it to fulfil its role as an accredited entity.
• Develop a roadmap for financial sector engagement. The activities will include mapping key financial institutions and their green finance practices, assessing existing barriers to uptake green financial instruments and designing recommendations on incentives and support (e.g. policies, guidelines, financial, technology, replicable and mature know-how and management approaches) the financial sector needs to invest and / or channel finance in climate projects and align the existing portfolios with climate and the Sustainable Development Goal (SDG) agenda.

The proposal addresses identified barriers such as limited outreach and visibility of the Ministry of Tourism and Environment (MTE) as the country's lead climate change institution, low institutional capacities for the direct access modality, the lack of an holistic approach to involve financial sector in order to crowd-in private investment into climate priorities, and a low level of public acknowledgment regarding the relevance of climate change and its development impacts, including gender-related ones.

Beneficiaries of the proposal include primarily entities selected for assessment for the direct access accreditation and subsequent support. The delivery partner will work closely with the beneficiary entity nominated as DAE to ensure the implemented activities, reflect its needs and incorporate the feedback. Furthermore, relevant financial sector stakeholders and Civil Society Organizations (CSOs), including women’s organizations, will be identified and invited for the structured dialogue on financial sector engagement and crowding-in private climate finance. The NDA will be strengthened to fulfil its role as the main communication point on GCF matters in the country by developing an online platform and information disclosure strategy. Journalists/media representatives will be trained with regard to climate change and its development impacts to further help disseminate information on climate change among a broader public.