Capacity development for climate action and development
Nov 12, 2021 | 3:00 PM - 4:30 PM
Nov 12, 2021 | 3:00 PM - 4:30 PM
Description
Developing countries, particularly Least Developed Countries and Small Island Developing States, face very long, costly and arduous processes to access financing. Such processes are often complex, differ across providers of development co-operation, can take too long, and demand resources not present in the poorest and most vulnerable countries. Furthermore, there is a recognition that there are structural issues that go beyond the design of individual funds, for example relating to enabling environments or credit ratings, as well as to the absorptive capacity that countries have once they access finance. While efforts are being made across climate finance channels and providers of development co-operation to access finance for climate change, more needs to be done if we are to collectively achieve the goals enshrined in the Paris Agreement and to promote sustainable development. Capacity development can be a key lever to ensure developing countries can do so. This side-event will focus on some of the challenges and bottlenecks that developing countries and providers of development co-operation face in this area. It will also emphasise current good practices, experiences and examples of success that could inspire replication and scaling-up of approaches to deliver capacity development and that ultimately can help developing countries access much needed climate-related resources.
