Thursday, May 21 2020 16:44
Karina Manukyan

GCF allocated funds for its first green financing grant program  in Armenia 

GCF allocated funds for its first green financing grant program  in Armenia 

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. 

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