UNDP/UNCDF Climate Change Finance 2023-2027

Overall the project has had very productive inception phase. The collaboration between UNDP and UNCDF was positive, and the teams both at regional and country level had been brought closer. A lot of work had been done to develop country strategies and work plans, sector baselines, gender and vulnerability assessments as well as (re)design of the LoCAL mechanism all which has fed into the overall updated regional project strategy. The interactions with the Embassy and Sidas Gender Helpdesk had been useful in the process to revise the project document, which has now been approved. Some highlights of results so far include: * Strengthening Bangladeshs response on IMF Resilience and Sustainability Facility. * Progressed with ICIMOD and UNCDF to develop an Adaptation Fund proposal covering up to 25 upazilas in Bangladesh. * Updated the design of the performance-based climate resilience grant mechanism to align with the national program for decentralization in Cambodia. * Cambodia's National Committee for Sub-National Democratic Development (NCDDS) currently being supported to develop GCF Simplified Approval Process proposal. * Revision of Nepal's National Climate Change Financing Framework and Provincial Climate Change Financing Framework of Koshi Province and Gandaki Province, including Gender Equality and Social Inclusion aspects. * A capital grant agreement for the transfer of the Performance-based Climate Resilience Grants was signed with the Government of Solomon Islands, establishing a mechanism aligned with the Provincial Capacity Development Fund (PCDF). * A variety of regional events for key stakeholders (including policy makers, financial institutions, civil society, experts and private sector) to share their insights and experiences, and collectively strategize on the pathways to accelerate the climate transition in a manner that ensures inclusively and resilience.

Overall goal: Impact: Bangladesh, Cambodia, Nepal, Solomon Islands and Tuvalu are building inclusive climate resilient communities and local economies and are transitioning towards low carbon development pathways. Medium term outcome: Climate governance is strengthened in a gender responsive manner and additional climate finance is leveraged at the national, sectoral and sub-national levels in Bangladesh, Cambodia, Nepal, Solomon Islands and Tuvalu. Outcome 1: Public sector at national, sectoral and local levels has enhanced capacities for effective planning of climate finance. Outcome 2:Climate Change is mainstreamed into national/ local governments' planning and budgeting systems and lead to allocations/investments. Outcome 3: Country frameworks and systems established and/or strengthened for increased access to climate finance (public, private, domestic, international). Outcome 4: Enhanced inclusiveness, transparency and accountability of climate finance. Outcome 5: Strengthened regional cooperation to enable climate finance reforms in the region.