Business View Caribbean | Volume 9, Issue 1

11 BUSINESS VIEW CARIBBEAN VOLUME 9, ISSUE 1 T he Ministry of Economic Development, Belize’s National Designated Authority (NDA) to the Green Climate Fund (GCF) and the newly formed Climate Finance Unit (CFU), is pleased to announce the GCF’s approval of the project entitled “Enhancing Access for Climate Finance Opportunities, through pre-accreditation support to Belize Social Investment Fund (BSIF) and Ministry of Economic Development (MED) and technical support for Belize National Protected Areas System (BNPAS) Entities”. This project, valued at BZ$1.2 million, is intended to support the accreditation of MED to access up to US$50 million in grant funding GCF APPROVES GRANT FUNDING FOR PRE-ACCREDITATION OF MED, BSIF AND TECHNICAL SUPPORT FOR BNPAS directly from the GCF and other international funding institutions. This will further strengthen the MED’s current structure including its fiduciary standards such as administration, finance, procurement, integrity, and transparency. Also, where relevant internally, it will re- structure to further its specialized capacity in driving climate action through actionable mitigation and adaptation projects. Activities on this component will include a gap assessment and action plan as the first step. Furthermore, the funds will also be used to address gaps identified under a previous readiness project that inhibit BSIF from OPENING L INES