To shift financial flows it is key to also consider fiscal policy and green
budgeting approaches. Finance ministries in Latin America and the Caribbean are increasingtheir awareness on climate change and the importance of fiscal policy in this regard but the scale of the challenge requires greater action. The fund works with these ministries to support the design, implementation, and evaluation of initiatives to increase the transparency, effectiveness, and efficiency of climate-related fiscal policies. These activities contribute to the successful design and implementation of Nationally Determined Contributions and long-term strategies. The Fund is also supporting the Regional Climate Change Platform of Finance Ministries to facilitate knowledge exchange. These activities help countries to achieve greater efficiency of climate-related spending and support fiscal policies for the transition to net zero emission and climate-resilient economies.
Countries: Argentina, Brazil, Colombia, Costa Rica, Ecuador, Guyana, Mexico, Paraguay, Peru,
Suriname, Dominican Republic
IKI funding: 17,500,000.00 €
Duration: 11/2021 till 11/2025
Status: open
Implementing organization: Inter-American Development Bank (IADB / IDB / BID)
Political Partner: Ministry of Economy – Argentina; Ministry of Economy – Brazil
Ministry of Economy and Finance (MEF) – Peru; Ministry of Economy and Finance – Ecuador
Ministry of Finance – Costa Rica; Ministry of Finance – Dominican Republic; Ministry of Finance – Guyana; Ministry of Finance – Paraguay; Ministry of Finance – Suriname; Ministry of Finance and Public Credit – Colombia; Secretariat of Finance and Public Credit (SHCP) – Mexico
