| Project Detail |
The NDC Pipeline Accelerator Multi-Trust Fund is a Fund implemented by the Inter-American Development Bank to support countries in Latin America and the Caribbean to reach their climate targets.The NDC Pipeline Accelerator Multi-Trust Fund (ACL) was created in April 2017 by the Inter-American Development Bank. NDF was the anchor donor, co-designer and co-creator in the first phase. Now, as countries in Latin America and the Caribbean (LAC) have more ambitious versions of their NDCs, the support to the implementation of national climate commitments will continue in a second phase. The region is exposed, vulnerable and strongly impacted by climate change. The situation is exacerbated by inequality, poverty, population growth, deforestation, and biodiversity loss. Climate change disproportionately affects people already living in poverty and marginalized groups, such as indigenous communities. Climate change will push people into poverty due to decreased agricultural activity and lack of food security. Reducing climate impacts and investing in adaptation and climate resilience is necessary to poverty reduction and well-functioning societies. The objective of the ACL is to support public and private entities in LAC to prepare and design priority investments corresponding to the NDCs and other national climate and sustainable development objectives. The specific objectives are to: (i) support IDB member countries to prepare the necessary investments to meet their climate and sustainable development objectives; (ii) mobilise and provide resources to cover additional costs associated with planning, identifying, preparing, and managing sustainable projects; and (iii) accelerate these sustainable projects through the project cycle. OUTCOMES The ACL seeks to respond to regional challenges by targeting its intervention on enabling outputs in broad and interlinked areas that aim at the long-term outcome areas of reducing vulnerabilities of people to climate change and reducing GHG emissions. These include; providing solutions for climate resilience and adaptability, establishing and/or improving climate resilient and green infrastructure and enabling an environment to support green investments. While the second phase of the ACL has the same objectives as the first phase, it is expected to have a greater emphasis on priority emerging themes like nature-based solutions, circular economy, and e-mobility, among others, particularly in the poorest countries in Central America and the Caribbean. It will also include a cross-cutting gender equality and diversity approach. FINANCING The ACL II will have a total budget of about EUR 31.28 million for the five-year period 2024-2028. NDF will contribute EUR 10 million as a grant for the second phase. |
