Enhancing Access to Climate Finance in Fiji Fiji, as Small Island Developing State, faces extreme climate vulnerability is already experiencing the negative impact of climate change because of changing weather patterns, including droughts and flooding events, and increasingly damaging natural disasters. The current average asset losses due to tropical cyclones and floods are estimated at more than FJD 500 million per year which is 5% of Fiji’s GDP. Climate change will affect all areas of life for the people of Fiji, and the expected impacts include reduced agricultural and fisheries productivity, declining health outcomes, eroding shorelines and riverbanks, shortage of water and higher infrastructure costs.  
The Fijian government recognizes the importance of adapting to climate change and coordinating climate change related adaptation policies, strategies, plans, and activities to reduce the vulnerability and enhance the resilience of Fiji’s communities to the impacts of climate change and disasters.  

Fiji’s national CO2 equivalent emissions make up a mere 0.006% of global emissions.SO, the Fijian Government and other non-government stakeholders have already taken steps to achieve decarbonization in the Fijian economy. Fiji has developed its NDC Roadmap setting a clear pathway to achieve its NDC targets and also launched the Fiji Low Emission Development Strategy (LEDS) 2018-2050 at COP24, through which Fiji aims to reach net zero carbon emissions by 2050 across all sectors of its economy.  This project is aligned with IO1. Strengthened national, sub-national and local green growth planning, financing, and institutional frameworks, IO3. Improved multi-directional knowledge sharing and learning to empower local and external agents necessary to drive green growth processes in partner governments and IO3. Improved multi-directional knowledge sharing and learning to empower local and external agents necessary to drive green growth processes in partner governments. The objectives of the projects are i.) Establish a coordination mechanism to govern and coordinate climate action and finance and strengthen the capacity of the NDA – Climate Change Division (CCD) of the Ministry of Economy – to take the lead role. ii.)Prepare the Entity Work Programme of a national accredited direct access entity (DAE) – Fiji Development Bank (FDB) – aligned with the Country Programme which is being developed this year with assistance from WRI - which aims to result in a number of project concept notes to be submitted to the GCF iii.) Prepare and submit the nomination of the Ministry of Economy (MoE) as DAE and support in their submission of application for accreditation to the GCF and facilitate Stage I accreditation. This will include carrying out gap assessment and preparing action plan for accreditation, followed by institutional and capacity building support, as required iv.)Provide Institutional and capacity building support to accredited and nominated DAE – FDB and MoE – to ensure compliance policies and procedures are in-place and capacities to manage, implement and oversee climate change projects and programs in line with the GCF fiduciary standards, environmental and social safeguards (ESS) and gender policy are built.