Background
The Government of Belize, through the Ministries of Finance, Economic Development, Sustainable Development and Foreign Affairs, expressed interest in exploring the adoption of the INFF approach. Particular focus was placed on the potential of an INFF to support implementation of the country’s Medium-Term Development Strategy as well as the Nationally Determined Contributions to the Paris Agreement (NDCs). Additionally, and related to this, interest was also indicated in relation to how INFFs can help promote the role of private capital in helping to fill the US$7 billion gap in financing for the NDCs.
Against this background, the INFF technical workshop aims to bring together expertise and lessons from relevant country experiences to inform the development of an action plan by the Government of Belize to adopt and adapt the INFF approach in service of its most pressing needs and priorities.
Objectives
The technical workshop will aim to:
- Cement a common understanding among government officials and other stakeholders of what an INFF is and its particular added value in Belize;
- Identify entry points based on current context and priorities;
- Provide space to reflect on current financing challenges and opportunities related to specific priority areas (e.g. climate change action/NDCs) and/or specific financing policy areas (e.g. leveraging private finance and investment);
- Recommend a governance structure for INFF implementation in Belize.