Manila: The Fund for Responding to Loss and Damage (FRLD) has initiated its first call for funding requests under the Barbados Implementation Modalities (BIM) during the 30th United Nations Climate Change Conference (COP30) in Bel©m, Brazil, from November 10 to 21. This marks a pivotal step in the Fund's transition to active operationalization, enabling it to commence interventions aimed at addressing climate-induced loss and damage in developing nations.
According to Philippines News Agency, the FRLD's announcement signifies a crucial signal to developing countries, indicating that support is now accessible. Richard Sherman, co-chair of FRLD, emphasized the importance of this funding call for developing countries. The BIM has been set with an allocation of USD250 million, specifically to aid developing nations in coping with both economic and non-economic losses resulting from extreme weather and gradual climate changes.
The BIM is structured to offer timely, country-led support to vulnerable communities while also generating valuable insights for long-term operations. Jean-Christophe Donnellier, co-chair of FRLD, announced that the funding call will be open for six months, beginning December 15, inviting developing countries to submit requests that align with their national priorities.
The launch at COP30, known as the 'implementation and action COP,' convened governments, development partners, and climate stakeholders to deliberate on funding criteria, access modalities, and coordination with existing climate finance frameworks. Donnellier highlighted the aim of this first call to test, learn, and refine the Fund's long-term model, stressing the importance of innovation by leveraging entities already accredited by other funds to expedite operational readiness and foster coordination.
Established at COP28 in 2024 after its initial agreement at COP27 in 2023, the FRLD has since seen the Philippines elected to host its board during the second meeting in Songdo, Korea, on July 9, 2024. During its seventh meeting in Manila in October, the Board resolved to initiate the call for funding requests for the BIM, approving key components for its operationalization, including the funding cycle, eligible activities, initial funding criteria, and access modalities.
Ibrahima Cheikh Diong, executive director of FRLD, underscored the significance of this funding call as a critical first step, highlighting the necessity for additional resources to meet the extensive needs on the ground. He emphasized that while this call is significant, the ongoing effort to mobilize further resources is essential to support the Fund's long-term objectives.
