In the Bolivarian Republic of Venezuela there is a need to develop national capacities to access international climate finance, including resources from the GCF. This will help the country achieve the common goals of the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement, as per the NDC.

However, various barriers have been identified, such as limited institutional capacity to fulfill NDA functions, including lack of procedures for evaluation and approval of funding proposals to be submitted to the GCF, or the lack of knowledge and experience of national entities, regarding GCF accreditation requirements and operations, in the identification, design, approval, and implementation of climate change projects and programmes. Thus, the main objectives of this proposal are the following:

• Develop an appropriate GCF coordination mechanism and strengthen the capacity of the NDA to adequately oversee GCF-supported activities at the national level. This includes strengthening the capacities of candidate institutions for accreditation as Direct Access Entities (DAEs) to meet and maintain GCF accreditation standards, developing a portfolio of projects, effectively implementing GCF-funded activities, and building the capacities of stakeholders to support the planning, programming, and implementation of GCF-funded activities.
• Develop, in coordination with MINEC, the National Committee of the GCF and the Presidential Commission for Climate Change, a GCF Country Programme, based on the NDC, to identify investment opportunities for climate-resilient and low-carbon development, ensuring complementarity with other ongoing national climate investments.
• Increase the participation of interested parties in the programming and design of projects financed by the GCF, considering the inclusion of the gender approach and the perspective of vulnerable groups.