Technical Assistance: Support to Climate Resilient Investment Pathways in the Pacific - Solomon Islands (2021-2023)
Categories: financial and fiduciary capacity, technical assistance, climate change, climate risk, climate finance
This Regional Technical Assistance delivery package for the Solomon Islands is part of the Support to Climate Resilient Investment Pathways in the Pacific, supported by the Asian Development Bank. This assignment has developed over three phases since 2021 and has focused on enhancing the Solomon Islands’ capacity to access climate finance through both bilateral and multilateral climate finance mechanisms. It also aims at guiding national stakeholders in understanding the entire institutional and policy architecture surrounding climate finance and donor climate funding. The Solomon Islands is a small-island developing state (SIDS) in the Southwest Pacific Ocean, one of the most vulnerable countries to the adverse impacts of climate change despite being one of the lowest emitters, with limited capacity for adaptability across all sectors of the economy.
In particular, the assessment has been targeted to:
Financial, fiduciary and project management support
- Directly support the Ministry of Finance and Treasury (MOFT) and its Climate Finance and Resilience Unit (CFRU) in completing the required Financial Management Capacity Assessment (FMCA, i.e., the key document outlining the requirements to become a delivery partner of GCF-supported Readiness and Preparatory Support Programmes) and in understanding the key fiduciary and technical gaps to access climate finance.
- Assess the alignment of the accreditation package, already submitted, by the National Transport Fund to the GCF
- Build a consultative stakeholder engagement process with other national institutions by providing bespoke training to raise awareness on climate change and governance, donors and GCF's accreditation requirements (Ministry of Finance Climate Finance and Resilience Unit, National Transport Fund, Chamber of Commerce, the Development Bank of the Solomon Islands)
- Develop and deliver additional training sessions with the CFRU and other selected national institutions; deliver a final workshop (2023)
Country programming and strategy
- Provide inputs into a country stocktake for the Solomon Islands that will help inform ADB country programming
- Build a pipeline of potential needs /investible projects
- On the basis of the final recommendations, draft a preliminary outline on additional technical assistance support by ADB to guide the Solomon Islands' authorities in building full institutional, fiduciary and technical capacity for scaling climate finance.
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This case study was written by Marta Simonetti, Founder and Managing Director of Globalfields. Visit Marta's bio or contact us today to discuss this project.