The project will deliver the framework for the establishment, operationalization and capitalization of a National Financing Vehicle (NFV) in Dominica as well as demand-led capacity building training to state and non-state actors to ensure the effective management of the NFV.
The proposed readiness aims to develop and operationalize a Nattional Financing Vehicle (NFV) for Dominica. The NFV mission is to increase private sector investments in renewable energy and energy efficiency (RE and EE) technology by adjusting the risk/return profile of investment opportunities by offering concessional finance to priority climate change adaptation and mitigation projects.
The objectives of the NFV are to increase:
- The use of viable RE and EE technologies in Dominica, in order to decrease energy costs of the population
- The country’s energy security by reducing its dependency on imported fossil fuels
- Climate change mitigation by reducing GHG emissions
- Climate resilience by providing a pathway toward financing distributed energy generation projects
- Dominica’s transition to Low Carbon pathway as articulated in the Low Carbon Climate Resilience Development Strategy
- Facilitation of Investment Opportunities in Dominica’s Blue Economy Masterplan designed to address the Climate Resilient Development Pathway of the Low Carbon Climate Resilient Development Strategy
- Capacity to originate, design, structure and bring to finance sustainable
The outcomes are the following:
- Strategies for transforming and attracting private sector investment for low emissions and resilience developed and being used
- An increased in the number of quality project concept notes developed and submitted that target SIDS, LDS and African states