Enhancing India’s Readiness to Climate Finance
India has taken several steps to improve its national response to climate change. India’s climate finance requirements, however, are very high, and will need to be met through a combination of public, private and international climate finance. See more at: http://shaktifoundation.in/
India has taken several steps to improve its national response to climate change. India’s climate finance requirements, however, are very high, and will need to be met through a combination of public, private and international climate finance. See more at: http://shaktifoundation.in/
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<strong>Enhancing</strong> <strong>India’s</strong> readiness <strong>to</strong> access and deliver international climate finance<br />
Figure IV.1: GEF access procedures in India<br />
Process/action<br />
Who is responsible?<br />
Focal point and their roles and responsibilities w.r.t accessing GEF fund in India<br />
Scope of activities (e.g.<br />
mitigation and/or<br />
adaptation) and specific<br />
definition of these<br />
activities<br />
Project design and<br />
beneficiary selection<br />
Eligible expenditure<br />
Direct or indirect financing<br />
GEF projects are generated in the countries based on country’s identified needs and<br />
priorities. Governments, NGOs, academic and research institutions, private sec<strong>to</strong>r<br />
entities, among others stakeholders, can submit a project <strong>to</strong> be considered by the GEF<br />
through an Implementing or Executing Agency. The activities and specific definition are<br />
then vetted and approved by MoEFCC and DEA.<br />
The national consultation process for approval of GEF projects in India is conducted by<br />
the GEF Empowered Committee, chaired by the Secretary, MoEFCC. This process<br />
involves the identification of National Executing Agency, identification of the lead GEF<br />
Agency and identification of focal points / contact persons.<br />
The institution tasked with leading the project is then responsible for the project design<br />
(submitted the PIF first followed by a project proposal) and MoEFCC is responsible for<br />
identification of appropriate GEF agencies<br />
The GEF Empowered Committee identifies national priorities with incremental value <strong>to</strong> be<br />
funded under GEF, including identification of possible co-financing at the national level<br />
Indirect financing<br />
FF<br />
IA SG/CG LM MoF<br />
FF<br />
IA: Implementing Agency<br />
SG/CG: State Govt/<br />
Central Govt<br />
LM: Line Ministry<br />
MoF: Ministry of <strong>Finance</strong><br />
FF: Fund Flow<br />
To seek the GEF grant, the implementing agency (World Bank in this example) will have<br />
<strong>to</strong> send a request <strong>to</strong> the state government which would forward it <strong>to</strong> the line ministry. The<br />
line Ministry would review the request and forward it <strong>to</strong> MoF with its endorsement. The<br />
MoF will release the funds directly <strong>to</strong> the state government, which will pass it on <strong>to</strong> the<br />
Implementing Agency.<br />
Choice of financing<br />
instruments<br />
Implementing entities<br />
MRV / ME processes<br />
GEF Empowered Committee decides the financial instrument. Most financing comes in<br />
the form of grants<br />
UNDP, UNEP, World Bank<br />
GEF Evaluation Office’s M&E Policy<br />
Ref: Ricardo-AEA/R/ED59216/Final Report<br />
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