The Costa Rica News (TCRN)- International resources to face the consequences of climate change have been distributed, but the countries have failed to take advantage of them.

The lack of institutional implementation and coordination capacity in Latin American countries causes delays to receive international aid to face climate change, stated Hilen Meirovich, Inter-American Development Bank (IDB) official and Climate Change Specialist. Climate finance is estimated at $100,000,000,000 from developed countries by 2020 through the Green Fund and other mechanisms.

“The mobilization of international resources has been given, the commitments on placing those resources have been met,” said the expert, who attended the II Latin American and Caribbean Dialogue on Climate Finance, held this week in El Salvador. Meirovich considered that one of the main problems to implement these programs is that it is an issue that involves many sectors and governments are not used to working by sectors.

She also pointed at the lack of capacity to manage technical tools such as the safeguard and trust tools, which give a degree of certainty that these resources will be used specifically for mitigation or adaptation to climate change. The specialist claimed that it is difficult to determine the extent to which the vulnerability of the countries and the impact of climate change based on funds have been reduced.

In the Second Dialogue on climate finance mechanisms and financial instruments were analyzed, as well as multi-institutional coordination and private sector potential for climate finance, among other issues. EF

The Costa Rica News (TCRN)

San Jose, Costa Rica

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