Bolivia is one of the most vulnerable countries to climate change according to the Latin American Development Bank-CAF, and it has been classified as extremely risky in South America.

In this context, Bolivia has a clear need to respond to local development challenges, articulating public and private productive sectors and catalyzing investments in low- emission and climate-resilient development programs and projects.

The corresponding endeavors and initiatives must consider the environmental vulnerability of the country, its high biodiversity and the threats to the livelihoods of its 36 indigenous nations. It is therefore necessary to facilitate direct access to climate finance resources through various channels (Grants, Senior Loans, Guarantee Funds and Equity).

In late 2017, the Ministry of Development Planning of the Plurinational State of Bolivia, in its role of NDA, nominated the Productive Development Bank (PDB) to start the process to achieve accreditation by the Green Climate Fund (GCF) as a national implementing entity.

In this regard, PDB is actively progressing in the accreditation process, and during 2019, received the Readiness Project for Gap Analysis and Action Plan for accreditation of the Banco de Desarrollo Productivo-BDP (Productive Development Bank - PDB) with PricewaterhouseCoopers, that concluded in January 2020.

This Readiness Project intends to give continuity and assure compliance of the Action Plan by aligning PDB to fiduciary standards, Environmental and Social Safeguards and Gender and Indigenous People guidelines of the Green Climate Fund (through the development of new policies and procedures).

The main beneficiary of this Readiness proposal is the Productive Development Bank, including assets and intellectual property generated during implementation, providing conditions to update and manage these assets. Moreover, to assure deliverables achieved will be accessible and free to share for all relevant stakeholders, PDB will develop an information disclosure policy, according to GCF ́s standards.