FITD will be the first accredited institution to the Green Climate Fund from the Western Balkans
North Macedonia today completed the Second Preparedness Project for the Green Climate Fund, which lays the foundations for state-led climate activities in the future. The final event was organized by FAO and the Cabinet of the Deputy Prime Minister in charge of Economic Affairs, in the role of National Designated Authority for the Green Climate Fund (GCF).
The Green Climate Fund is an important partner of North Macedonia in accessing financial resources for the realization of the priorities for climate action in accordance with the Paris Agreement, the Goals for sustainable development and fulfillment of climate obligations within the pre-accession process of the European Union.
Building on the results of the First Preparedness Project, completed in 2019, under the Second Project, the Government and FAO worked together to further strengthen the knowledge and capacity of the National Designated Authority and relevant partners to access the Green Climate Fund.
Deputy Prime Minister Bytyqi referred to the benefits of the project, such as – “Finalizing the National Work Program for the Green Climate Fund with specific priorities and detailed review of project / program ideas (from public and private actors, at national and local level) in the identified priority sectors – energy, transport, water resources, agriculture, waste, biodiversity, health, forestry and cultural heritage – which will be implemented as part of North Macedonia’s efforts to tackle climate change.
Recognizing the key role of the private sector in climate-resistant low-emission development, through this second preparedness project, the Government and FAO in this project placed special emphasis on unleashing the potential of domestic private companies for climate investment, by educating them on issues related to climate change, climate finance and the use of technologies and innovations to mitigate and adapt to climate change.
A major step in strengthening the private sector’s engagement in climate action and investment is the Government’s recent decision of 12 April 2022 to nominate the Fund for Innovation and Technology Development (FITD) to be the first national entity to start the accreditation process for Green Climate Fund. The Deputy Prime Minister stressed the importance of the accreditation process to the Green Climate Fund, adding that FITD will be the first accredited institution to the Green Climate Fund in the Western Balkans with direct access to funding from the Fund, as an institution with experience in managing climate action projects, but also offers opportunities for innovative solutions. “With this process, the Fund for Innovation rises to the level of other international organizations accredited to the Green Climate Fund, such as the World Bank, United Nations Agencies, EBRD, GIZ, EIB, etc.,” said Deputy Prime Minister Bytyqi.
In this context, the Deputy Prime Minister in charge of Economic Affairs and the Director of FITD, today signed a Memorandum of Cooperation aimed at strengthening the future partnership to encourage climate action in the private sector. As a first step, they announced their first joint Challenge for Dealing with Climate Change 2022. The challenge aims to encourage increased activities to develop and apply innovative technologies, products and processes to mitigate or adapt to the effects of climate change, which will contribute to global efforts to tackle climate change and more active involvement of the private sector in the development of green businesses and job creation in this area.
“We are pleased to have delivered a long-term impact beyond the life of the project, utilizing FAO’s expertise as an accredited Green Climate Fund entity, supporting North Macedonia to increase its capacity to mobilize climate finance from the Green Climate Fund for activities for “Country-led climate change mitigation and adaptation” said Nabil Gangi, FAO Deputy Regional Representative for Europe and Head of FAO in North Macedonia.
Festim Halili, director of FITD, said that this is a real example of project sustainability and immediate action. “In addition to government policies and incentives to achieve climate goals and green development, we give the private sector a unique investment opportunity that will foster innovation and climate action across sectors” he added.