MIF, NDF Launch “PROADAPT” to Build Climate Resilience in LAC
15 April 2013: The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, and the Nordic Development Fund (NDF) announced the launch of a US$11.9 million regional facility, PROADAPT, which will support micro, small and medium enterprises (MSMEs) in Latin American and the Caribbean (LAC) to build climate resilience and access green business opportunities.
PROADAPT will work with: an estimated 2,000 MSMEs to develop new tools, business models and knowledge that will increase their climate resilience; and MSME-related institutions, including local public authorities, to create greater awareness and knowledge of climate resilience among MSMEs.
Participating MSMEs will receive support in identifying and accessing business opportunities that stimulate green growth, and those with good business models and know-how will be able to tap into an increasing number of market opportunities as risks from climate change increase.
According to MIF, PROADAPT aims to leverage lessons learned from recent MIF initiatives related to climate adaptation, as well as play a role in filling knowledge and information gaps on climate resilience for MSMEs. The facility will create a climate adaptation knowledge online platform and network, which will share knowledge, models, methodologies and lessons learned.
NDF's participation will facilitate the replication and scaling up of successful pilot projects in the region, as well as in Africa and Asia, and provide opportunities for South-South collaboration and knowledge sharing on climate resilience. [MIF Press Release] [NDF Press Release]