Coastal Resilience to Climate Change in Cuba through Ecosystem Based Adaptation – “MI COSTA” (GCF-FP157)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Cuba
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 19, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
United Nations Development Programme (UNDP)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 23.93 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Grant Amount (USD)
$ 23.93 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 44.30 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ GCF website

Updated in EWS Aug 20, 2024

Disclosed by Bank Feb 23, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

Adaptation project to increase resilience to coastal flooding and saline intrusion on the southern coast of Cuba. The pillars of the project are: protection and rehabilitation of ecosystems, capacity building (both in government institutions and in communities) and strengthening of regulation.

The project will affect 1,300 km of coastline, benefiting more than 1 million people in 24 communities.

11,427 ha of mangroves, 3,088 ha of swamp forest and 928 ha of swampy grass will be restored, which in turn will improve the health of 9,287 ha of seagrass beds and 134 km of coral reef ridges.

The project also contemplates providing training to decision makers, teachers, leaders of the economic sector and local communities, with the objective of providing training to 60% of the population within the selected municipalities.

Environmental information will be distributed through a knowledge platform, to ensure the strengthening of regulatory frameworks and continuous feedback from and to communities, organizations and government.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - United Nations Development Programme (UNDP) Client Humanitarian Response

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
<h4 class="mt-1 mb-3">United Nations Development Programme:</h4> <div class="view view-content view-id-content view-display-id-contact view-dom-id-8a87101fc52996b2417d3b94904894eb"> <div class="view-content"> <div><address><strong>Mrs. Nancy Bennet</strong>&nbsp; <div class="field field-name-field-number field-type-text field-label-hidden"> <div class="field-items"> <div class="field-item even">Primary</div> </div> </div> <br />Executive Coordinator, ad interim (A.I)<br />304 East 45th Street, FF-9th Floor, New York, United States<br /> <div class="mt-2"><span class="text-verlag text-xxs font-weight-bold mr-5">Phone</span>&nbsp;+12129065044<br /><a class="text-verlag text-xxs font-weight-bold d-inline-flex align-items-center" href="mailto:nancy.bennet@undp.org">nancy.bennet@undp.org</a></div> <div class="mt-2">&nbsp;</div> </address></div> <div><address><strong>Mr. Robin Merlier</strong>&nbsp; <div class="field field-name-field-number field-type-text field-label-hidden"> <div class="field-items"> <div class="field-item even">Secondary</div> </div> </div> <br />Principal Advisor Environmental Law and Policy<br />304 East 45th Street, FF-9th Floor, New York, United States<br /> <div class="mt-2"><span class="text-verlag text-xxs font-weight-bold mr-5">Phone</span>&nbsp;+1 2129065842<br /><a class="text-verlag text-xxs font-weight-bold d-inline-flex align-items-center" href="mailto:robin.merlier@undp.org">robin.merlier@undp.org</a></div> </address></div> </div> </div>

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How it works