On climate change financing, the newsletter notes the challenges facing Pacific Island Countries in effectively accessing and managing resources for climate change including, the need to improve development effectiveness and donor harmonisation, differing levels of policy and institutional enabling environments and capacity constraints.
August 2011: The Pacific Islands Forum Secretariat (PIFS) has released the 2011 edition of the Trends and Development e-newsletter, based on the Forum Economic Ministers’ Meeting (FEMM) work programme. The newsletter includes a summary of the 2011 FEMM outcomes, as well as information on: remittances issues; interest rate issues; climate change financing; small and medium sized enterprise financing; financial inclusion; the Pacific economic outlook; and commodity prices.
FEMM convened from 19-21 July 2011, in Apia, Samoa. On climate change financing, the newsletter notes the challenges facing Pacific Island countries in effectively accessing and managing resources for climate change, including the need to improve development effectiveness and donor harmonization, differing levels of policy and institutional enabling environments and capacity constraints.
According to the PIFS, direct budgetary and sector support are effective modalities to address climate change challenges sustainably. Another national level option suggested are National Trust Funds, which PIFS says offer a modality for climate change resources to accrue over time, facilitating draw-down rates commensurate with the human, institutional, and absorptive capacity of Pacific Island countries. PIFS also notes that a regional or sub-regional fund as an option, providing better coordination of regional resources to identify funding opportunities and provide technical assistance. [Publication: Trends and Developments e-newsletter August 2011]