Tuvalu Yet To Benefit From $10 Million Green Climate Funds

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Pacific Islands Development Program, East-West Center With Support From Center for Pacific Islands Studies, University of Hawai‘i

Funds only go to outside agencies with accreditation: Minister

WELLINGTON, New Zealand (Radio New Zealand International, May 5, 2016) – Tuvalu's Finance Minister says Tuvalu is yet to see the benefit of $US10 million in green climate funds allocated to Tuvalu to help it adapt to climate change.

The minister Maatia Toafa said most of the money had gone to the agency which had been helping Tuvalu develop its National Adaptation Plan of Action over the past three years.

He said while agencies had their own overheads, it was only fair the funds should be directed at addressing climate change impacts for the people.

Mr Toafa said Tuvalu was hoping to get accreditation soon for its own implementing agency.

He said the region needed national accreditation in place quickly instead of having to rely on agencies like the Asian Development Bank, World Bank and the UNDP to access the UN-backed Green Climate Fund.

Tuvalu is also concerned about the criteria used by climate financiers to access funds.

"We know that we have don't have the capacity but have an existing Trust Fund that has been operating successfully. At least it is there as a model, why not sync the money in there to help us implement all the projects at the pace of our capacity?" he told Pacnews on the sidelines of the 49th Annual Meeting of the Asian Development Bank in Frankfurt.

"It would be better if we receive the money and implement at our own pace. We are not going to misuse that money because we want to make sure the projects will benefit the people.

"We need to continue to make our voices heard. We are happy that Australia is a co-chair of the Green Climate Fund. We hope it will be sympathetic to the concerns of Tuvalu and other Pacific countries and streamline the processes for accessing the much needed climate funds," said the minister.

Maatia Toafa also welcomed the announcement by the ADB to increase its climate financing by 2020 from $US2 billion to $US6 billion.

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