Enhancing Jamaica’s Capacity to Access Climate Finance

Document cover for Enhancing Jamaica’s Capacity to Access Climate Finance
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Enhancing Jamaica’s Capacity to Access Climate Finance

The Government of Jamaica through the National Designated Authority has nominated three entities for accreditation with the GCF. These entities are Jamaica Social Investment Fund (JSIF) , Development Bank of Jamaica (DBJ) and the Planning Institute of Jamaica (PIOJ). The JSIF has been accredited whilst the DAE’s are at various stages of preparation of the Accreditation process. Jamaica through accreditation will be able to exercise ownership of climate change funding and better integrate these funds with its national climate change action plan.

This Readiness Grant will address the following gaps :

Lack of a comprehensive project management system compliant with GCF in particular the project development module treating with the writing of proposals within the DAE and the AE and NDA.

The JSIF along with the PIOJ does not have an operationalized Anti-Money Laundering and KYC framework to meet the requirements of GCF

Although the JSIF has a Risk Management Policy , it has not been operationalized. There is a need to operationalize the policy which will align with the GCF requirement for ranking projects based on risks and monitoring thereafter.

The JSIF has an operational manual which is its chief policy document. Having written and promulgated several policies that were required by the GCF, the manual has not been streamlined to reflect the updates and to allow for seamless implementation.

Cover date 25 February 2023
Document type Approved readiness proposal
Jamaica Social Investment Fund