Access to Finance: MDB and climate fund reforms that deliver

Access to climate finance is a key priority for Small Island Developing States (SIDS) and Least Developed Countries (LDCs). Multilateral development banks (MDBs) and multilateral climate funds are major channels through which climate finance is provided. SIDS and LDCs often face difficulty accessing finance through these institutions because of complex governance, application and implementation requirements, together with the constraints faced by small administrations. MDBs and climate funds have reformed aspects of their processes in recent years, but these changes are not always well understood by governments that continue to experience the burden of accessing and delivering finance. This event will anchor SIDS access to finance as a priority and provide a direct forum for climate finance providers, Pacific island countries, SIDS and LDCs to discuss reforms already underway and the further changes needed. It will enable MDBs and climate funds to outline measures taken to improve access, while highlighting ongoing challenges in the Pacific and press for practical reforms. The discussion will also support the Access to Climate Finance Statement and Action Plan and Pillar 2 of the COP31 Pacific Partnership on Access to Climate Finance.