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The Fiji Development Bank is well on its way to becoming an accredited institution to access the Green Climate Fund (GCF).
FDB CEO Mark Clough says while there are a few accreditation issues pending, they are already looking at several climate projects.
Fiji is aiming for 100 percent renewable energy by 2030 and needs funding for projects that focus on low emission and climate resilience.
“We’re looking at the Electric Bus project, for example, we’re looking at an agricultural solar PV project as well. We’re looking at resilient housing, water security as well as reforestation, so there’s some of the projects we’re looking at already.”
Meanwhile, the GCF offers a blended financing approach for each project of up to $20 million (US$10 million), with Fiji, approved an allocation of more than $60 million (US$30 million) so far.
The fund primarily looks at projects that adapt to the impacts of climate change.
SOURCE: FBC NEWS/PACNEWS
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