We are the National Designated Authority (NDA) to the Green Climate Fund (GCF). The NDA is the fundamental intermediary and point of communication between stakeholders in Fiji and the Green Climate Fund (GCF). We:
- Coordinate all NDA efforts and support all stakeholder to submit projects to the GCF – project appraisal, Letter of Support, No Objection Letter, providing GCF guidance to Fiji Development Bank (FDB).
- Promote, support, and facilitate greater non-government involvement in financing climate centric projects across the whole economy
We also coordinate Domestic Climate Finance by:
- Administering, monitoring, and reporting on the Environment and Climate Adaptation Levy (ECAL)
- Conceptualizing and facilitating private sector climate finance via capital markets – green bond, blue bonds, green guarantees, etc.
The Pacific Climate Finance and Insurance Incubator – known as the Drua Incubator – will bring together leaders in finance, investment, and insurance to develop and “incubate” transformational and scalable financial and insurance products. These products target the specific requirements of Pacific Small Island Development States (SIDS) and we play a vital role as the administrators of this program.
We have also supported the development and launched the Pacific region’s first ever parametric climate and disaster micro-insurance product. The product aims to provide immediate financial relief to vulnerable communities, including farmers, fishers, and small businesses, following a tropical cyclone.
We also administer and coordinate the Fiji Rural Electrification Fund (FREF) to be a sustainable venture providing clean and affordable electricity to rural Fijians.