Mobilizing international climate finance and private investments for low-carbon development in Saint Lucia

The Government of Saint Lucia has developed a Private Sector Engagement Strategy and NDC Financing Strategy to develop an enabling environment for private sector investments, with the goal of having the private sector contribute an estimated US$ 218 million in mitigation investments by 2030[1] (that is 90% of the total). The proposed Readiness grant supports these efforts by: 1. Supporting Saint Lucia’s capital market’s readiness assessment for a sovereign green bond issuance and debt for climate swap transaction to raise long-term funds earmarked to climate change adaptation and mitigation projects. 2. Providing technical assistance to local financial institutions to integrate environmental and social standards into their processes, procedures, and instruments in order to increase the availability of green finance for private-sector led climate change adaptation and mitigation projects. 3. Increasing the Government of Saint Lucia’s institutional capacity to design and structure Public-Private Partnerships. 4. Advancing the development of a PPP flagship project: Saint Lucia’s Green Affordable Housing project.