Technical Workshop Held to Develop INFF Action Plan

Technical Workshop Held to Develop INFF Action Plan

The Government of Belize is working to establish an Integrated National Financing Framework (INFF) to fast-track the implementation of the country’s sustainable development goals (SGS). The United Nations Development Programme (UNDP) is hosting a three-day technical workshop geared toward the development of an INFF action plan. The policy will delve into climate financing and the intricacies of raising capital from public, private, and international agencies seeking to support climate mitigation and adaptation strategies. Chief Executive Officer of the Ministry of Sustainable Development, Climate Change, and Disaster Risk Management, Dr. Kenrick Williams, says the policy will ensure the government’s approach to realizing its international environmental obligations is targeted.

Dr. Kenrick Williams, CEO, Ministry of Sustainable Development, Climate Change and Disaster Risk Management: “We estimate that to invest or to implement the targets outlined in the medium term development strategy it’s going to cost us upward of $7 billion dollars. When we look at our nationally determined contributions as it relates to climate change and building resilience in Belize towards climate change we estimate that it’s going to be about $1.4-$1.9 billion dollars. So we’re going to require a lot of resources in order to achieve these goals. And so the idea here is to look at the resources that we currently have, to look at where the gaps are and then the sort of innovative financing solutions that we need in order to achieve those goals. In addition to that sometimes it’s not just about the resources it’s the whole policy and institutional framework and some of these things. So in terms of the legislation, in terms of our tax policy for instance there are opportunities there to make some revision, to strengthen them in order to then achieve the kind of success we need in terms of the sustainable development goals particularly those sector targets that we have for the Government of Belize.”

The framework has been implemented in eighteen countries and has proven to be successful, according to the UNDP. Williams added that it would guide the overarching goal of his ministry while improving the country’s overall access to climate financing.  

The workshop is being held in collaboration with the United Nations. /////

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