The Needs-Based Climate Finance (NBF) initiative under the UNFCCC supports developing countries, especially Small Island Developing States (SIDS) and Fragile and Conflict-Affected States (FINCOAHN/FCAS)—to define and advance their climate finance pathways. Despite increasing global climate finance flows, these countries continue to face a persistent access gap. Structural barriers such as complex accreditation requirements, limited technical data, and high transaction costs prevent many from converting National Adaptation Plans (NAPs) and Nationally Determined Contributions (NDCs) into bankable projects. The Climate Capital Marketplace at Korea Climate Week (CW) offers a strategic shift from broad advocacy to hands-on pre-readiness support and structured deal-making. This session is designed to address the foundational bottlenecks that prevent SIDS and FCAS countries from accessing readiness and preparatory support windows from major climate funds.
The Climate Capital Marketplace pursues four core objectives:
1. Demystify Climate Fund Modalities
Technical teams from the Green Climate Fund (GCF), Global Environment Facility GEF, Adaptation Fund (AF) and the Fund for Responding to Loss and Damage (FRLD) will provide direct, practical guidance on simplified approval processes and readiness pathways tailored to vulnerable contexts.
2. Address the Pre-Readiness Gap
Countries will engage in interactive sessions to identify and resolve foundational challenges—such as climate rationale development, data gaps, institutional constraints, and partner identification—that hinder access to preparatory support.
3. Enable Early-Stage Deal-Making
Structured Deal Rooms will allow countries to present high-level project pitches to Accredited Entities (AEs), National Implementing Entities (NIEs), technical assistance providers, and private sector partners. The goal is to catalyze early partnerships, co-financing opportunities, and technical support for project maturation.
4. Produce Country-Specific Roadmaps
Each participating country and regional body (PIFS, OECS, CARICOM, Indian Ocean) will leave with a concrete, time-bound roadmaps outlining next steps for project development, readiness engagement, and partnership formalization.
Stakeholder Ecosystem
The Marketplace convenes a uniquely diverse set of actors essential for accelerating climate finance access:
- Beneficiary Countries: SIDS across the Pacific, Caribbean, and Indian Ocean; FINCOAHN/FCAS countries including Chad, South Sudan, Yemen, Timor-Leste, and Papua New Guinea.
- Climate Funds/Banks: GCF, GEF, AF, FRLD and development banks
- Regional Anchors & Technical Advisors: PIFS, OECS, CARICOM, Government of Maldives, g7+, ODI, WFP, and others supporting climate rationale and theory of change development.
- Project Partners: Bilateral and Multilateral finance providers, Accredited Entities, NIEs, and private sector partners seeking early engagement.
- Capital Providers: Donors and investors interested in high-impact, de-risked opportunities in vulnerable regions.
Implementation Note
Countries are encouraged to bring Project Idea Notes (PINs), draft Concept Notes, or emerging project ideas. These may be presented during Day 2 Deal Rooms or showcased through project posters in the Marketplace area. The aim is for every country to exit CW with strengthened project concepts, identified partners, and a clear roadmap for advancing toward investment readiness. For more details please refer to Step-by-step guide for countries and partners.
Programme
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Day 1: Fund Engagement and Capacity Building
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09:00
30 mins
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Session 0: Opening and scene setting
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Opening and scene setting the two days ahead
Moderator: Jerry Velasquez
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120 mins
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Session 1: Regional and country context
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Regional presentation of priorities and needs
Leading questions:
1. Which two or three bottlenecks most consistently prevent SIDS and FCAS from moving from national priorities to readiness requests, concept notes or funding proposals?
2. Which gaps are genuinely shared at regional level, and which require country-specific support rather than a regional approach?
3. Where is the missing link today: political coordination, institutional capacity, accredited partners, technical design, or access to the right financing instrument?
Moderator: Jerry Velasquez
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COFFEE BREAK
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60 mins
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Session 2: Deep dive on Climate Funds’ support to countries to Build Capacity and Readiness
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Presentation and interaction with GCF, GEF and AF on what they do and offer to incl. inter alia capacity-building pathways, access and support modalities.
Leading questions:
1. What support windows are available now under each fund, and what is the first practical step for a country to access them?
2. Why do otherwise strong countries stall before concept note stage, and what can the funds and partners do differently to reduce that attrition?
3. How should NDAs, focal points, direct entities, accredited entities and technical partners divide labour so that countries face less fragmentation and lower transaction costs?
Moderator: Grant Kirkman
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13:00-14:00
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LUNCH
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60 mins
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Session 2 Continued
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Updates from FRLD Secretariat on what support windows are available now under FRLD, and what are the steps for a country to access these.
Moderator: Grant Kirkman
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60 mins
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Session 3: Country Platforms
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Open discussion on support to country-owned pipeline development and country platforms
Leading questions:
1. Under what conditions does a country platform genuinely help coordination, and when does it simply create another layer of meetings and actors?
2. What minimum functions should a country platform perform to support country-owned pipeline development without displacing national institutions?
3. How can platforms remain voluntary and country-driven while still being useful to climate funds, accredited entities and development partners?
Moderator: Jerry Velasquez
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COFFEE BREAK
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60 mins
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Session 4: Strategic direction setting, opportunities and implications for receivers of support
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Showcasing GCF Impact and Dialogue on the new Strategic Plan 2028 - 2031
Moderator: Jerry Velasquez
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17:00
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End of Day 1
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Day 2: Country readiness / Marketplace & deal room
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10:30
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Opening (and recap of Day 1)
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UNFCCC
Moderator: Jerry Velasquez
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60 mins
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Session 5: Pre-Readiness
(Getting ready to get ready)
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Interactive roundtable with countries, climate funds and partners on key gaps and challenges in accessing readiness support and the preconditions needed for SIDS and FCAS to move towards larger climate finance. The discussion should identify concrete opportunities for follow-up support and partnerships.
Leading questions:
1. What does “getting ready to get ready” mean in operational terms for SIDS and FCAS?
2. Which preconditions are most often missing: institutional mandate, focal point coordination, baseline data, partner mapping, fiduciary readiness, or concept development capacity?
3. Which of these gaps can be solved quickly through targeted support, and which require a longer institutional pathway?
Moderator: Jerry Velasquez
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11:30
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COFEE BREAK
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60 mins
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Session 6: Targeted partnership responses
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Short, focused responses from potential partners to the bottlenecks surfaced in Session 5, identifying concrete offers of support, possible collaborations and immediate follow-up.
Leading questions:
1. Which bottlenecks can partners help address immediately, and which require broader institutional change?
2. What support can partners credibly offer in the next six months?
3. How can follow-up remain country-led rather than partner-led?
Moderator: Grant Kirkman
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13:00 – 14:30
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LUNCH
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| 120 mins |
Session 7: Marketplace & Deal Room |
Curated and pre-matched pitches by countries, regional bodies, AEs and TA providers on projects under development and seeking partnership, technical assistance, readiness support or co-financing.
Leading questions:
1. What is the precise ask behind each pitch: readiness support, concept development, accreditation partnership, technical assistance, co-financing, guarantees, or another instrument?
2. What is the single biggest issue preventing this idea from moving forward in the next six months?
3. Who is taking which next step after this session, and by what indicative timeline?
Moderator: Jerry Velasquez
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| 16:30 |
COFFEE BREAK |
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| 30 mins |
Session 9: Closing |
Review and confirmation of next steps,
including partnerships, write-shops and follow-up meetings, as captured in the event report and action notes.
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| 18:00 |
End of event |
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