NDF Board approves funding for the NDC Pipeline Accelerator
The board of NDF has given the green light to replenish the Inter-American Development Bank’s NDC Pipeline Accelerator trust fund with grant financing of EUR 10 million to support countries in the Latin America and the Carribean.
Most countries in the Latin America and Caribbean are particularly vulnerable to climate change and extreme weather events. Most countries have now updated, more ambitious, nationally determined contributions (NDCs) for climate change adaptation and mitigation. Additional financing is needed for preparatory activities leading to scaled up climate resilient and low-emission investments.
NDF was the anchor donor that helped the establishment of the NDC Pipeline Accelerator Fund back in 2017 and is committed to continue co-funding the Accelerator as it has performed well and delivered good results in leveraging public and private resources for climate investments.
The Accelerator aims at helping the Latin American and the Caribbean countries to achieve their NDCs and their long-term objectives of becoming climate-resilient and carbon neutral. It is expected to have greater emphasis on supporting the small and vulnerable countries in the region, adaptation, and emerging themes like nature-based solutions, circular economy and e-mobility. The fund supports investments in infrastructure, agriculture and land-use management, and has already successfully leveraged more than USD 14 billion in public and private investments. It has supported 51 projects to help countries deliver on their NDCs and on the Paris Agreement goals.
The NDC Accelerator was showcased as a successful project example in our just released Results Report, which can be found here.
“The NDC Pipeline Accelerator gets the ball rolling on complex investments. This includes feasibility studies, consultations, in-depth analysis, capacity building – all the preparation a big project needs.” says Gloria Visconti from the Inter-American Development Bank.
