This Readiness proposal will respond directly to Tuvalu’s policy and institutional context through the provision of support in building capacity in climate financing and project management, supporting private sector engagement, co-development of sectoral concept notes to meet adaptation needs, and improved coordination across sectors and stakeholders through strengthened engagement and information sharing.

IF Tuvalu strengthens the capacity of all stakeholders for climate finance, project and fiduciary functions, THEN it will enhance its access to climate financing and private sector investment opportunities BECAUSE it will have a cohort of organizations specialized in climate financing and project management; two delivery partners - one a private entity nominated for accreditation - with systems and standards required for GCF accreditation; and a private sector engaged and implementing a private sector investment roadmap. The support provided will create the enabling conditions for the development of an investment pipeline of low carbon and climate resilient projects.

To fully implement the country’s climate ambitions, Tuvalu will need additional financing to close the gap for climate action. This Readiness grant strengthens Tuvalu’s climate financing efforts through NDA support, direct access to finance, and capacity to achieve against its climate targets.Toward this goal, this Readiness grant will support Tuvalu in Readiness Programme

Outcome 1.1: “Country NDAs of focal points and the network / systems that enable them to fulfil their roles, responsibilities and policy requirements are operational and effective”,

Outcome 1.2: “Direct access applicants and accredited entities (DAEs) have established capacity to meet and maintain the GCF’s accreditation standards; and accredited DAEs have the capacity to develop a pipeline of projects and effectively implement GCF-funded activities”,

Outcome 1.3: “Relevant country stakeholders (which may include executing entities, civil society organisations and private sector) have established adequate capacity, systems and networks to support the planning, programming and implementation of GCF funded activities”,

Outcome 2.4: “Strategies for transforming and attracting private sector investment for low emissions and resilience developed and being used”,

Outcome 4.3: “An increase in the number of quality concept notes developed and submitted that target SIDS, LDCs and African states”, and

Outcome 5.1: “Best practices with respect to institutional capacity building, direct access, and pipeline development are developed and disseminated to strengthen engagement by NDAs, DAEs, and delivery partners with the GCF”.