Ecuador relies heavily on concessional international climate finance from development partners to finance its development and climate change objectives. However, the achievement of Ecuador’s NDC targets requires a substantial increase in the volume of public and private, national and international climate finance invested in the country. Although international climate finance offers some relief to the country´s growing debt to GDP ratio, the decreasing level of international aid and limited private sector participation in the country’s development agenda undermines the long-term sustainability of heavily relying on international climate grants and concessional finance with limited private sector participation.  

The proposed Readiness grant aims to enhance the strategic frameworks of the Government of the Republic of Ecuador to increase the mobilization of national and international climate finance and private investments for the implementation of the Nationally Determined Contribution (NDC) and low carbon development.