DFC Seeks Green Climate Fund Accreditation for Sustainable Development

DFC Seeks Green Climate Fund Accreditation for Sustainable Development

The Development Finance Corporation (DFC) is seeking accreditation with the Green Climate Fund (GCF).  The organization submitted its application yesterday which has been dubbed as a landmark move.  Once accredited, the DFC will be able to access up to fifty million US dollars in funding from the GCF which would then be available to spearhead transformative initiatives in the realm of sustainable development and environmental protection. Speaking on the important role of the DFC was CEO Dr. Osmond Martinez, during his address at the launch of the Natural Capital Project earlier this week.

Dr.Osmond Martinez, Chief Executive Officer, Ministry of Economic Development: “It’s our hope that DFC will get its GCF accreditation in March of this year which will be a great milestone and one that will connect and will position DFC well not only to mobilize funds for the most vulnerable population or for our national development but also climate finance. And we are not just after climate finance because there are many sexy lines of credits from our development partners on climate finance, but we are after climate finance justice. It’s important to understand the difference when we look for example that many countries around the world are saying, listen climate change is real. Well, we don’t have to say climate change is real. We can say we have climate change refugees in Belize and that’s Monkey River. Many citizens had to leave Monkey River. They had to leave their own hometown because of climate change and that is climate change refugees. So we know what is climate change. We know what is the impact of climate change.”

By securing accreditation with the GCF, DFC will fortify its capacity to finance and implement projects that address the pressing challenges posed by climate change, fostering resilience and sustainability across diverse communities. Through strategic partnerships and stakeholder engagement, DFC aims to maximize the impact of these initiatives, fostering long-term environmental sustainability and social well-being.

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