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[Media Release - MFEM]

TE TANGO AKATEREANGA MONI O TE IPUKAREA – MINISTRY OF FINANCE AND ECONOMIC MANAGEMENT


Direct financing for communities and businesses to respond to climate change in the Cook Islands

A new innovative project currently under development aims to channel financing to Cook Islands based organizations. The Green Climate Fund’s, Enhancing Direct Access (EDA) pilot aims to transfer funding decisions and project oversight to the national level. The Development Coordination Division (DCD) of the Ministry of Finance and Economic Management and Climate Change Cook Islands of the Office of the Prime Minister are leading the development of the EDA project. The project aims to provide direct financing for communities and businesses to respond to climate change in the Cook Islands. This will be achieved by establishing a dedicated facility to support community adaptation, individuals and businesses, local governments, and the provision of technical assistance to build capacity through training and tertiary education.


In late 2018, MFEM gained accreditation to the GCF as a Direct Access Entity (DAE). The EDA pilot is only available to DAEs. “The EDA pilot is quite distinctive as it provides MFEM the opportunity to move beyond financing of individual projects to a more programmatic stakeholder’s approach,” said Mani Mate, Director, Development Coordination Division.

The focus of the EDA project is based around the new 2019 building code that mainstreams resilience measures against cyclones, floods and drought. The project approach includes activities related to improving energy efficiency, wastewater treatment and reuse, protection and sustainable use of local products for the building sector, ecosystem protection and environmental monitoring, foreshore naturalization, replanting and climate smart agriculture. The project will also support the upgrading of existing private buildings belonging to vulnerable groups, the self-employed, sole traders, and micro and small enterprises.


DCD is kindly seeking feedback from communities, government and private sector on the draft EDA Concept Note, which can be obtain by;


· Emailing tessa.vaetoru@cookislands.gov.ck or

· Collecting the Concept note from the Development Coordination Office, MFEM Building, Third floor

· Or downloaded from below.

EDA Project Brief
.pdf
Download PDF • 1.45MB

Submissions should be made to tessa.vaetoru@cookislands.gov.ck by Friday 18 September 2020.


Photos:

1. Cook Islands Readiness team – NDA – Wayne king, Krystina Tatuava, Raymond Newnham. DAE – Mani Mate, Tessa Vaetoru, Ana Tiraa, Stephanie Vaiimene

2. NDA and DAE members with EDA Consultant Lia Nicholson


END.


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