Private sector actors can engage in Bangladesh to get access to Green Climate Fund (GCF) funding in two ways: either as Accredited Entity (AEs) or by implementing projects as executing entities.
1. How can a private entity become an AE?
To become an AE, it is necessary to get accreditation from the GCF. In general, any subnational, national, regional, public or private agency can apply to become an accredited entity, provided that it fulfils certain criteria: has a legal status andestablishedpolicy and procedures; fulfils the fiduciary, environment and social standards; and has a gender policy. Prior to applying for accreditation, you can fill out a self-assessment questionnaireto learn more about the accreditation requirements.
Self Assessment: Available Here
The final step before you can apply for accreditation is obtaining a nomination letter from Bangladesh’s National Designated Authority (NDA), the ERD of Ministry of Finance. The NDA serves as the core interface and focal point of communication between Bangladesh and the Green Climate Fund. The NDA seeks to ensure that activities supported by GCF align with strategic national objectives and priorities, and help advance ambitious action on adaptation and mitigation in line with national needs.
NDA in Bangladesh:
Room #33 (Third Floor), Block #7
Economic Relations Division, Ministry of Finance,
Government of the People's Republic of Bangladesh
Sher-e-Bangla Nagar, Dhaka-1207, Phone: +88 02 9180908
Once you are accredited as an AE, you can respond to requests for proposals (RFPs) issued by the GCF ordevelop and submit your own funding proposals.
More information on the accreditation criteria and the accreditation process: Available Here
2. How can I access funds indirectly through an accredited entity?
Private sector actors, those whodo not have their own accreditation; they can also access GCF fundsindirectly through another agency, which is already accredited by the GCF. Private companies thus act as executing entities that can submit proposals to or respond to RFPsthroughaccredited entities.
List of accredited entities: Available Here
3. What is the Private Sector Facility of the GCF and how to engage with it?
You can start your engagement with the GCF through the so-called Private Sector Facility (PSF), specifically establishedto engage the local and global private sector to support climate change mitigation and adaptation projects in developing countries. The PSF is actively engaging with pension funds, insurance companies, corporations, local and regional financial intermediaries, and the capital markets.To submit funding proposals through the PSF, you still need, however, to either be accredited by the fund or partner with accredited agencies. You can engage with the PSF by following these steps:
Moreover, the PSF issues RFPs and you can respond to such RFPs as for Micro-, Small-, and Medium- Sized Enterprise Programme.
More about the Private Sector Facility: Available Here
4. Whom should I contact at the GCF Private Sector Facility?
- Ayaan Adam, Director, GCF Private Sector Facility; Mr. Tony Clamp, Deputy Director, GCF Private Sector Facility; Ms.Jiwoo Choi, Head of Financial Institutions, GCF Private Sector Facility
- +82.32.458.6256 (Korea Standard Time), email@example.com
5. What does GCF invest in and what else should I consider for proposal development?
The GCF supports projects and programmes in eight strategic areas outlined in the graph. Furthermore, each proposal needs to fulfil the GCF investment criteria and be aligned with national priorities identified by the government of Bangladesh.
See GCF investment criteria: Available Here
Find out more about national priorities of Bangladesh: Available Here
Once you have developed your project concept in alignment with the GCF requirements and national priorities, you need to undergo a project approval process first in Bangladesh and then at the GCF level.
How to submit a proposal in Bangladesh: Click Here
Approval process at the GCF level: Available Here
6. Where can I find examples of private sector projects financed by the GCF?
- KawiSafi Fund: A green impact investment fund to support a disruptive decentralized clean energy economy in Kenya and Rwanda. GCF financing: USD 25 million; accredited entity: Acumen; financial instruments: equity and grant.
More examples in the brochure: Available Here
7. I do not have the required capacities : Where can I get support?
The GCF secretariat has designed a country readiness programme to help access information about the accreditation process, submit proposals to RFPs and carry out concept planning (please contact the NDA for more information).Moreover, accredited entities can also get support from the Project Preparation Facility for pre-feasibility and feasibility studies, risk assessments and other project preparation activities.
More information: Available Here
- Website of the Green Climate Fund, Click Here
- NehaRai, Iftekhar Hossain, MarekSoanes, VirginieFayolle, Naznin Nasir, YousufMahid. 2016. How can Bangladesh’s private sector engage with the Green Climate Fund? IIED toolkit. IIED, London, Click Here.