FITD one step closer to accreditation in the Green Climate Fund (GCF)
The Fund for Innovation and Technology Development, as the first state institution appointed by the Government of the Republic of North Macedonia to start the process of accreditation to the Green Climate Fund (GCF), officially submitted an application for accreditation to the GCF.
With the successful completion of the accreditation process, FITD will become the first accredited national institution in Macedonia, which will enable greater access to finances from the GCF intended for realizing the climate program priorities of the Republic of North Macedonia and encouraging innovative, green investments, with full ownership in the climate financing process and its better integration with national climate action plans.
“I am really proud of the FITD team, which, with the support of the Food and Agriculture Organization (FAO), worked hard in the past period to prepare a Gap Analysis in accordance with the accreditation criteria of GCF, as well as preparing an Action Plan to overcome the identified gaps, as part of the process of submitting the application for accreditation by GCF. With this step, we are actively involved in the fight against climate change and we make clear that green investments are the focus of work of the Fund for Innovation and Technology Development in the coming period. All of us must take a concrete step to enable a better future for us and the new generations” said Festim Halili, director of the Fund for Innovation and Technology Development.
According to the Decision of the Government of the Republic of North Macedonia, the Fund for Innovation and Technology Development was appointed to be the first national entity that will start the procedure for accreditation by the Green Climate Fund. As a central institution for the support of micro, small and medium-sized enterprises with a developed mechanism for creating support instruments, FITD is a strategically suitable entity to become an entity with direct access to GCF from the Republic of North Macedonia, in which way it will get faster and easier access to using the funds from the Green Climate Fund to contribute to the implementation of the climate program priorities of the Republic of North Macedonia.
As the beginning of FITD’s efforts in the direction of encouraging green investments in the private sector, last year the Fund for Innovation and Technology Development in cooperation with the Cabinet of the Deputy President of the Government of the Republic of North Macedonia, in charge of economic affairs, coordination with economic sectors and investments and FAO, published a call for “Tackling Climate Change 2022”. Five domestic companies are recipients of financial support in the total amount of 7.5 million denars, which have already started implementing their innovative solutions that will enable the development of innovative, climate/clean technologies, products and/or processes aimed at mitigating or reducing the consequences from climate change.
