PANAJI
The Goa State Climate Change Cell of the Goa State Biodiversity Board (GSCCC-GSBB), is in process of establishing a Special Purpose Vehicle (SPV) to pool resources for strengthening climate resilience across the State.
The GSCCC-GSBB along with other departments will be setting up SPV in the form of a new company under the Goa State Government’s Blended Finance Initiative.
According to the press statement, the SPV will be instrumental in channelling funds from multilateral and other sources to support diverse climate adaptation and mitigation strategies, to combat climate challenges like rising temperatures, sea level rise and changing rainfall patterns; thereby to create a ‘Climate & Disaster “ resilient Greener Goa’.
The government has tied up with the World Bank to set up blended finance facility to access and mobilize concessional finance to implement low-carbon and climate resilient investments.
