Inter-American Development Bank NDC Pipeline Accelelerator Multi-donor Trust Fund (ACL)

Description What is done in the programme or project and why, what results are pursued, who benefits from the activities and who are involved in the implementation.

NDC Pipeline Accelerator Multi-Donor Trust Fund (ACL) was established in 2017 with the Nordic Development Fund as an initial major funding partner. The fund´s objective is to support countries in Latin America and the Caribbean in order to accelerate their commitments aligned with the Paris Climate Agreeement and UN Sustainable Development Goals. The Fund assists national and sub-national entities, both public and private, to plan and design investments in infrastructure, agriculture, and land-use management that are aligned with their NDCs and other national climate and sustainable development objectives. The Latin American Development Bank (IDB) is the largest climate financier in the region. The ACL Fund is one of IDB's main climate finance instruments. The ACL has achieved good results in achieving economic impacts as well as climate change and SDG targets in recent years. In particular, leverage has been effective in mobilizing both public and private sector funding, both from the region and internationally. The fund's profile is strongly Nordic, the NDF's initial funding was EUR 10 million. In addition to IDB, other donors are the Netherlands, Sweden and Austria. The project primarily contributes the priority area 4 of Finland's development policy: Climate change and natural resources. The funding contributes to SDG Objective 13. Climate action. It is proposed to allocate EUR 5 million to the Climate Fund of the Development Bank of Latin America and the Caribbean (IDB), the so-called NDC Pipeline Accelerator Multi-Donor Trust Fund (ACL). Funding will be allocated for 2021 and and 2022