RIDASICC Project is presented at Climate Finance event in Guatemala City, Guatemala

The RIDASICC Project was present at the “First Climate Investment Forum in Central America: Increasing the ambition to implement the NDCs” held in Guatemala City, on May 18 and 19, 2023. The event was organized by the Project ” Increasing the ambition of the Nationally Determined Contributions (NDC) and climate financing in Central America” executed by the United Nations Environment Program (UNEP) and financed by the Green Climate Fund.

The inauguration was in charge of Mr. Gerson Elías Barrios Garrido, Minister of Environment of Guatemala; Ms. Piedad Martin, Deputy Regional Director of the UNEP Office for Latin America and the Caribbean, Mr. Pablo Viera, Global Director NDC Partnership Support Unit and Ms. Carolina Fuentes, Director of the Country Programming Division of the Green Fund for the Climate.

Julie Lennox, Head of the Agricultural Development and Climate Change Unit of the Subregional Headquarters of the Economic Commission for Latin America and the Caribbean (ECLAC) in Mexico and Coordinator of the RIDASICC Project participated in the panel entitled “How to integrate climate change into the structuring of projects and public investments? She highlighted the strategic contribution that public investment that integrates disaster risk reduction and sustainable and inclusive adaptation can make to the response to the climate crisis and the fulfillment of the NDC goals. She emphasized the relevance of the network of partner institutions of the project at the national and regional level, including seven Ministries of Treasury / Finance and three of Planning, Public Works and the Water sector, Environment and Meteorology and Spatial Data institutions. At the level of the Central American Integration System (SICA), the Council of Ministers of Finance of Central America, Panama and the Dominican Republic (COSEFIN), the Sectoral Council of Ministers of Transportation of Central America and its Technical Secretariat (COMITRAN/SIECA) are partners. ), the Coordination Center for the Prevention of Disasters in Central America and the Dominican Republic (CEPREDENAC) and the Regional Committee for Hydraulic Resources (CRRH). Together, these institutions are implementing “learning-by-doing” training processes, strengthening their methodological guides and developing practical tools for the processes of identification, formulation and evaluation of public investment projects, as well as pilot tests with real projects in preparation. . Likewise, within the framework of the project, a geographic information system for public investment is being developed.

Róger Vega, Principal Technical Advisory Consultant of the RIDASICC Project participated in the panel “How are information systems on climate change affecting decision-making in the countries?”. In his speech, he highlighted the importance of expanding the spatial and temporal perspective for the analysis of risks, including climatic risks and the use of climatic information and socio-natural variables available in geographic information systems and computer applications that guide and support formulators and evaluators of projects to determine and evaluate measures that reduce risks, allow adaptation and generate multiple benefits.

Mr. Alfredo Flores, Executive Secretary of COSEFIN, main partner of the RIDASICC project, was invited to participate in the panel entitled “What should be the contribution of debt swap strategies to finance the NDCs of Central America?”. During his presentation, he highlighted the vulnerability of Latin America and the Caribbean to the effects of climate change and the pressure that these generate on public finances. He mentioned various alternatives to finance the implementation of the NDCs, among which he highlighted sustainable public procurement, the reform of fossil fuel subsidies, the issuance of sovereign green bonds, and the debt-for-conservation swap.

ECLAC was also represented by Santiago Lorenzo, Head of the Climate Change Economics Unit at Headquarters in Santiago, Chile. He spoke in two panels, “Accelerating climate investments in Central America: What has worked and what needs to be corrected?” and “What should be the contribution of debt swap strategies to finance the NDCs of Central America?”. He also offered a keynote address entitled “Mobilizing large-scale financing: International debates and opportunities for Central America.” His interventions made it possible to show the relevance of these issues for ECLAC and the willingness of the organization to support the countries of the region with its theoretical arsenal in complying with their NDCs.

Taking advantage of the visit to Guatemala, the RIDASICC team held meetings on May 17 with the Pre-Investment Directorate of the Secretariat of Planning and Programming of the Presidency of the Republic of Guatemala (SEGEPLAN) and with the General Directorate of Economic Integration, Trade Facilitation and Transport (DITIL) of the Secretariat for Central American Economic Integration (SIECA), where they were received by Mr. Eduardo Espinoza Valverde, its General Director. The meetings highlighted the relevance and usefulness of the project for both institutions and the interest in continuing to work on a second phase of the RIDASICC project, for which they have begun to identify areas of opportunity in each institution.

About RIDASICC

ECLAC and SECOSEFIN, with the close participation of the seven Treasury or Finance Ministries and three Planning Ministries or Secretariats responsible for the National Public Investment Systems (SNIP) of the COSEFIN/SICA member countries, implement the RIDASICC project with financing from La Swiss Agency for Development and Cooperation (COSUDE).

Focused on capacity building, the RIDASICC project has interconnected training components with a “learning-by-doing” approach, strengthening of methodological guides, generation of tools, pilot projects and strengthening of geographic information systems required for the formulation and evaluation of projects. of public investment.

The project combines actions at the national level focused on strengthening the capacities of the SNIPs, including dependencies and entities of the prioritized sectors and specialized institutions, with actions at the regional level that seek to strengthen the capacities of SICA instances, including COSEFIN, COMITRAN/ SIECA, CEPREDENAC, CRRH and the General Secretariat of SICA.