Armenia national country programme consultation with GCF marks step towards stronger climate action
The development of the Armenia country programme has been recognised as a central element in addressing the impacts of climate change and meeting its climate ambitions. As the fourth most climate vulnerable country in the Europe and Central Asia region, Armenia's vulnerability to climate change is well recognised and creates apparent risks, which are likely to cause development challenges in the coming decades, as well as reverse gains, if not appropriately addressed and mitigated.
"Engagement with GCF is pivotal for achieving Armenia's climate change targets and reducing our vulnerability to climate change," says Grigoryan.
The consultation highlighted the role of the private sector as one of the key players in mobilising low-carbon, climate-resilient technologies.
"Private sector investments in renewable energy and sustainable agriculture are crucial components of climate action," says Ministry of Nature Protection First Deputy Minister Irina Ghaplanyan. "A systemic approach to climate change is the only solution we have to address Armenia's climate change challenges sustainably."
The country programme offers an opportunity to create synergies with other ongoing climate action initiatives, such collaborations with the NDC Partnership and the Global Environment Facility. Its development follows the GCF accreditation of the Environmental Project Implementation Unit (EPIU), the first Direct Access Entity in Armenia, as well as in Eastern Europe.
"Armenia's proactive engagement with GCF has been highly valuable. It delivers a clear signal to GCF that there is a demand for climate finance and a potential to support paradigm shifting to low-carbon and climate-resilient investments in the country," says Clifford Polycarp, Deputy Director of GCF's Division of Country Programming.
GCF has so far invested in three projects in the country, and is supporting two projects under its Readiness Programme.