The Adaptation Fund Board Accredits National Implementing Entities in Costa Rica and Morocco
Fundecooperacion and Agency for Agricultural Development now eligible to submit projects for funding via direct access
(Washington, DC November 21, 2012) – This week the Adaptation Fund Board (AFB) accredited two additional entities as a National Implementing Entities (NIEs) – the Fundecooperacion for Sustainable Development of Costa Rica and the Agency for Agricultural Development (ADA) of Morocco. These Board decisions bring the total number of national entities accredited to 14.
The possibility to access and manage funds independently of multilateral agencies, the direct access modality through an NIE, is one of the innovative features of the Adaptation Fund. The accreditation of ADA and Fundecooperacion represents considerable efforts at the organizations to demonstrate and provide evidence that they comply with the fiduciary standards approved by the AFB. The fiduciary standards include standards on financial integrity and management, institutional capacity, and transparency and self-investigative powers.
Fundecooperacion is a nonprofit foundation established in 1994 to promote sustainable development. Since its inception, Fundecooperacion has funded projects in areas related to “Climate Smart Agriculture.” Mr. Ronald Vargas, Chair of the Executive Board of Fundecooperacion, stated “…this accreditation is an acknowledgement of our transparent work, accountability and rigorous policies in fund management and administration.” Ms. Marianella Feoli, Executive Director of Fundecooperacion, elaborated that “…the Adaptation Fund resources will supplement those that Fundecooperacion and other organizations already have available for adaptation to climate change.”
The Agency for Agricultural Development was established in 2008 and is responsible for overseeing the implementation of the Green Morocco Plan, a government plan to revitalize the agri-food sector. Mr. Adil Benchekroun, the Director of Administration and Finance at ADA, stated, “The ADA welcomes the accreditation granted by the Adaptation Fund Board. This partnership will allow our organization to mobilize resources for the implementation of climate change adaptation projects in the context of the strategy for the Green Morocco Plan.”
The Adaptation Fund Board continues to encourage the operationalization of the direct access modality through the successful accreditation of NIEs. In Costa Rica, William Alpízar, Climate Change Director at the Ministry of Environment, indicated potential sectors that Fundecooperacion may seek funding for “the country has identified as priority sectors in adaptation, the following: water resources, agriculture, coastal areas, fishing and infrastructure.”
The Adaptation Fund was established under the Kyoto Protocol of the UN Framework Convention on Climate Change, and gets the main part of its funding from a two percent share of proceeds of all Certified Emission Reductions issued under the Protocol’s Clean Development Mechanism projects. The Fund is designed to finance concrete climate change adaptation projects and programs based on the needs, views and priorities of developing countries. The Global Environment Facility provides secretariat services to the Adaptation Fund and the World Bank serves as its trustee, both on an interim basis.