ArmInfo.The Green Climate Fund (GCF) allocated funds for its first grant program in Armenia in the field of green financing.
As the initiator of the program, the Ministry of Environment of the Republic of Armenia, informs, the goal of the Fund is to provide financial mechanisms for developing countries to adapt and mitigate the effects of climate change. Within the framework of this program, which is unprecedented in its format, GCF allocated a grant in the amount of about $ 660 thousand. Armswissbank CJSC was chosen as the implementing agency of the program, which will organize the activities stipulated by the program and control the effective allocation of grant funds.
The grant will be aimed at attracting the best international and local experts and consultants to analyze the current situation in the field of green financing in Armenia, as well as to study the best international experience. The processes will also include research on the experiences of beneficiary financial institutions and completed projects. The implementation of the program will also make it possible to assess the regulatory field of the sector and, as a result of this, form a comprehensive roadmap.