Belize Development Finance Corporation Capacity Strengthening for Accreditation to the Green Climate Fund

The proposal seeks USD 498,902 over 14 months to address fiduciary and operational gaps in the Belize Development Finance Corporation (DFC). Based on a PwC gap assessment, the project aims to establish an Investment Management Policy, an Asset and Liability Committee, an Environmental and Social Management System, and policies for internal audit, procurement, and communication. The Caribbean Development Bank (CDB) will serve as the implementing partner to help the DFC become a vehicle for deploying gender-responsive climate finance to Belize's private sector, particularly MSMEs.

• The Government of Belize has nominated the Development Finance Corporation (DFC) for GCF accreditation to address the lack of capable national deployment vehicles for climate finance, which hinders the delivery of climate change priorities.
• A 2019 gap assessment by Price Waterhouse Coopers (PwC) identified specific institutional deficiencies that the Readiness grant intends to resolve, including the need for a formal Environment and Social Safeguards (E&S) Policy and a detailed procurement policy.
• The project will deliver six primary operational outputs: an Investment Management Policy, an Asset and Liability Committee (ALCO), an Environmental and Social Management System (ESMS), an Internal Audit Policy and Procedures, a Procurement Policy and Procedures, and a Communication Policy.
• The DFC is considered a critical vehicle for climate action because the private sector accounts for over 90% of national employment and is dominated by micro, small and medium-sized enterprises (MSMEs).
• The total requested amount for the capacity strengthening project is USD 498,902, with an implementation period of 14 months.
• The Caribbean Development Bank (CDB) will act as the Delivery Partner, responsible for financial management, procurement, monitoring, and reporting.
• The DFC's existing climate efforts include a Renewable Energy/Energy Efficiency (RE/EE) credit programme launched in 2017, which had commitments of US$0.567 million for 15 sub-projects as of June 2019.
• The proposal includes the acquisition of a private corporate credit rating from a recognized international or regional agency to meet GCF standards.

APA

Green Climate Fund (2020). Belize Development Finance Corporation Capacity Strengthening for Accreditation to the Green Climate Fund. https://www.greenclimate.fund/sites/default/files/document/belize-development-finance-corporation-capacity-strengthening-accreditation-green-climate-fund.pdf

Chicago

Green Climate Fund. Belize Development Finance Corporation Capacity Strengthening for Accreditation to the Green Climate Fund. 2020. https://www.greenclimate.fund/sites/default/files/document/belize-development-finance-corporation-capacity-strengthening-accreditation-green-climate-fund.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Belize Development Finance Corporation Capacity Strengthening for Accreditation to the Green Climate Fund |date=13 November 2020 |url=https://www.greenclimate.fund/sites/default/files/document/belize-development-finance-corporation-capacity-strengthening-accreditation-green-climate-fund.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2020belize, author = {{Green Climate Fund}}, title = {{Belize Development Finance Corporation Capacity Strengthening for Accreditation to the Green Climate Fund}}, institution = {Green Climate Fund}, year = {2020}, month = nov, url = {https://www.greenclimate.fund/sites/default/files/document/belize-development-finance-corporation-capacity-strengthening-accreditation-green-climate-fund.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }