The Pacific Resilience Program Phase 2 (PREP II) comprises a series of projects aimed at enhancing the resilience of coastal infrastructure in the densely populated areas of the capital Majuro and the island of Ebeye.
Donors
Support that Counts
The PREP II project has been made possible through the generous contributions of donors which recognize the necessity of enhancing the capacity of the Republic of the Marshall Islands to be resilient in the face of the challenges imposed by climate change.
This donor support has been instrumental in strengthening local institutions and advancing development of a national plan for adapting to the impacts of climate change. Likewise, it has enabled planning for implementation of an early warning communications system, and made provision for upgrading of the National Disaster Management Office. It has paved the way for a major assessment of coastal vulnerability and made provision for the design and construction of the Ebeye seawall.
The project is in every way a testament to the goodwill and partnership between these donors and the RMI government, and it underscores the importance of international cooperation in addressing the challenges of climate change and its impact on vulnerable populations.
The World Bank
The World Bank is a global financial institution created in 1944 and headquartered in Washington, D.C.. With a mission to reduce poverty it provides loans, grants, and technical assistance to developing countries to support economic development and improve living standards through sustainable economic growth.
Consisting of five institutions, funding of State level economic development programs such as that being undertaken in RMI is typically facilitated by the International Bank for Reconstruction and Development (IBRD) or the International Development Association (IDA). The IBRD provides loans to middle-income and creditworthy low-income countries, while the IDA provides grants and low-interest loans to the least developed countries. Read More: https://projects.worldbank.org/en/projects-operations/project-detail/P160096
Green Climate Fund (GCF)
The Green Climate Fund (GCF) is a global fund established by the United Nations Framework Convention on Climate Change (UNFCCC) in 2010 to support developing countries in their efforts to mitigate and adapt to the impacts of climate change. The GCF provides financial resources to developing countries to help them transition to low-emission, climate-resilient economies, with a focus on supporting the most vulnerable communities.
It operates as an independent international organization and receives contributions from governments, the private sector, and other sources. The GCF’s goal is to make a significant and ambitious contribution to the global response to climate change and achieve a balanced allocation of financial resources between mitigation and adaptation.
Read More: https://www.greenclimate.fund/project/fp066