The approved Readiness grant will strengthen Eritrea’s institutional capacity to access and manage climate finance by enhancing the NDA and coordination mechanisms, supporting the accreditation of a national entity, and establishing key systems and tools for climate finance planning and mobilization. The development of Eritrea’s first Long-Term Strategy, a Country Platform for Climate Finance, and strategic sector assessments will provide a strong evidence base to guide climate investments and future GCF programming.
The grant will also build a robust climate investment pipeline through a Climate Investment Plan, two Concept Notes, and two Funding Proposals, supported by strengthened monitoring, evaluation, learning, financial, and audit systems. In addition, a national Climate Data Management Platform and participation in regional knowledge-sharing initiatives will improve access to climate information, strengthen planning and decision-making, and enhance Eritrea’s ability to develop bankable projects and sustain long-term climate finance mobilization and implementation.