The Renewable Energy Industry in CARIFORUM Countries

RENEWABLE ENERGY INDUSTRY STAKEHOLDER ASSESSMENT

3.17.2 | UNITED NATIONS DEVELOPMENT PROGRAM

The United Nations Development Program (UNDP) was established in 1965 by the General Assembly of the United Nations. It is guided by the United Nations Development Group’s common approach to implementing the SDGs; Mainstreaming, Acceleration, and Policy Support (MAPS). UNDP’s mandate includes helping countries to meet their SDGs. The UNDP also administers a Capital Development Fund, which helps developing countries grow their economies by supplementing existing sources of capital assistance by means of grants and loans. It also supports governments in securing increasingly diverse sources of innovative financing for development and ensures that such financing is risk informed. The most relevant goal for this study is SDG-7: Affordable and clean energy. In 1992, as part of their strategy a UNDP Small Grants Facility (UNDP-SGF) was established globally, and in 1994, for all independent Caribbean countries. Administrative offices exist in 16 countries to serve the region. As implied, only small grants are provided, and it excludes private enterprises. On a country-by-country basis, assistance transfers are provided based on biodiversity, context, vulnerability and per capita income. Country assistance varies from $5M to $10M annually. RE companies would have to organize themselves under an umbrella private sector institution or NGO in order to access the funds. Funding for qualifying projects is usually up to $50,000 with the access criteria being predefined and evaluated by a committee to determine eligibility. Strategic projects may however go up to $150,000. Projects must be within the Global Environment Facility (GEF) focal areas and may include capacity building in organizations; project management, proposal writing, event hosting and showcasing expertise. Standard proposal templates exist to facilitate applications for funding assistance.

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The Renewable Energy Industry in CARIFORUM Countries