The SIRF Fund’s RLP was established as a programme under the SIRF Fund to provide resources and financing to individuals, communities, and businesses in Antigua and Barbuda to enhance their resilience against climate-related events and natural disasters. Particularly, it aims to provide access to low-cost and non-collateral financing to improve the livelihood and resilience of vulnerable persons and support climate change adaptation.
During its pilot phase (2017-2023), initial funding for the RLP was provided by the Green Climate Fund (GCF), the Special Climate Change Fund (SCCF), and the Adaptation Fund (AF)
The RLP is the first of the SIRF Fund’s disbursal mechanisms to be implemented. It is, therefore, overseen by the SIRF Fund’s governing bodies and administered by an interim secretariat. As such, the purpose of the RLP is to provide access to this concessional financing to improve the ability of vulnerable persons to adapt to climate change. This is done through the disbursement of small loans to traditionally high-risk and low-income groups, such as homeowners, small and medium enterprises (SMEs), and first responders. Loan payments are re-disbursed to maximize impact. The RLP offers concessional financing as well as discretionary loan forgiveness and payment flexibility to certain categories of borrowers for whom loan repayment, even at highly concessionary rates, may be difficult.
The RLP is set up to assist vulnerable homes and business owners to prepare for climate change by improving resilience of existing infrastructure over time. The loan offering presents standard adaptation options with regards to (1) water and sanitation, including vector control; (2) temperature; (3) hurricanes, (4) energy resilience and (5) flooding.
The SIRF Fund has capitalized funds from major international donors including the Green Climate Fund, (GCF), Adaptation Fund (AF) and the Global Environment Facility (GEF). To date the SIRF Fund has capitalized on 17 million ECD in donor Funding through various projects to supports its revoovling loan programme and small grants programme.
A funding mechanism that provides modest financial awards to community groups or NGOs for localized, high-impact projects.
The SIRF Fund has capitalized funds from major international donors including the Green Climate Fund, (GCF), Adaptation Fund (AF) and the Global Environment Facility (GEF).
A funding mechanism that provides modest financial awards to community groups or NGOs for localized, high-impact projects. These programs typically feature streamlined application processes to make resources accessible to grassroots organizations.
This Programme provides low-cost, non-collateral financing to help Antigua and Barbuda build resilience against climate change. It prioritizes vulnerable groups by making adaptation projects and disaster preparedness more accessible and affordable.
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