Climate change innovation project preparation fund

This project aims to set up a Regional Fund that will provide Central American Integration System (SICA) countries with funds to run projects that both address and prevent natural disasters.

This is done in a context of the region’s vulnerability to climate change. To that end, the EU is putting together € 4 925 000 (out of € 1 705 495 000 as total investment with lead partner CABEI) towards the setup of a Regional Fund. These investments will contribute to the mitigation of the impact by extreme events, while improving capacity to deal with climate change. For these reasons, the Fund will serve as a catalyst to ensure focused action is maintained at national and international levels.

More specifically, the Fund aims to help build SICA countries’ capacities in the development of viable climate change projects by providing technical assistance for project preparation. It will do so by facilitating:

• Climate risk assessment and studies for the development of disaster warning, monitoring and alert systems.
• Preparation of relevant studies for projects and identification of environmental indicators.
• Financial analysis of projects or the identification and evaluation of potential implementing entities.
• Definition of technical aspects of projects in relation to climate and natural disaster risk assessment (where relevant).
• Improved capacity to access credit to finance climate change projects through integrated preparedness.
• Stronger capacity by CABEI for the formulation, implementation, execution, monitoring and evaluation of climate-focused projects.
• Promotion of gender indicators throughout the identification, design, implementation, monitoring and evaluation of climate-focused projects.