Background

ECIS programme countries face multiple risks related to energy and climate, including energy shortages and vulnerability to climate change. Although climate change will affect countries to varying degrees, the entire region will be affected by long-term trends such as increasing scarcity of fresh water and increasing frequency and intensity of climate-induced disasters. These trends could threaten food security and prospects for economic growth and create new sources of conflict and instability.

As reflected in their Intended Nationally Determined Contributions and given the complexity of the international climate finance architecture and an increasing global competition for resources, ECIS countries, especially the most vulnerable, require technical assistance to access new climate finance sources on their path towards low carbon and climate resilient development.

Objectives

• Project Development Facility to support required feasibility analysis, economic and cost benefit analysis, project scoping and design aimed at leveraging new and additional climate finance investments in the eligible countries. Under this component at least 6 countries to be supported; 4 project concepts/proposals to be submitted to vertical funds; and $100 million to be leveraged to support climate action in ECIS.
• Knowledge exchange across the ECIS countries on leveraging climate finance and enhancing access to project development expertise and technical guidance. Under this component four training/knowledge exchange events to be supported.