Calls are being made for concrete actions in Fiji to enable access to climate financing from the Green Climate Fund (GCF), which would facilitate the implementation of large renewable projects in the country.
Among the suggestions is the accreditation of more agencies that can propose these projects to the GCF, thereby tapping into the global climate financing pool. KOOKAI – Lyndhurst Group CEO Rokoseru Nabalarua noted that Fiji currently has only two accredited agencies, including the Fiji Development Bank (FDB). He inquired whether the Ministry of Finance could also become an accredited agency.
Nabalarua stated, “I understand there’s quite a lot of funds available, and already, a number of Pacific island countries have accessed it.” He mentioned recent discussions with Ambassador Amena Yauvoli about channeling some renewable projects through this financing avenue. “By doing so, we can access those funds and secure both grants and soft loans to develop significant renewable projects, such as hydro, which require substantial investment.”
Deputy Prime Minister and Minister for Finance Prof. Biman Prasad identified one of Fiji’s past challenges as the country’s ability to submit strong proposals. “If we, as a country, can put forth robust proposals—and we are pushing this aggressively within the ADB and the World Bank—then we can convey the difficulty of relying solely on even soft loans, as they still constitute borrowing and debt,” Prasad said. “We are hopeful for more grant financing, particularly for climate-resilient infrastructure and mitigation projects like renewable energy.”