First CTI High Level Financial Roundtable to be held in Manila in May 2012
The CTI Financial Resources Working Group (FRWG) agreed to hold the first High Level Financial Roundtable (CTI HLFRT) in conjunction with ADB’s 45th Annual Meeting, planned in May 2012, at the Philippine International Convention Center in Manila.
The event will be a venue for the six CT countries and the Regional Secretariat to generate additional funding for the implementation of their NPOAs and the RPOA. It will also give donors a chance to communicate their funding priorities.
The decision was made during the first meeting of the FRWG in Kuala Lumpur, Malaysia on 12–13 October 2011. Representatives from the CT6, the Regional Secretariat, and development partners from ADB, the Government of Australia, and the US CTI Support Program (CTSP) attended the event. Ministers of the CT6 endorsed this plan during SOM7/MM3. Senior officials are still choosing the theme for the HLFRT, and asked that planning be done diligently to ensure a successful outcome.
History of the FRWG and HLFRT
The FRWG was formed in October 2008 during the 2nd Senior Officials Meeting (SOM2) to develop the financial architecture for the CTI-CFF, consistent with the overall fiscal and legal policies of each of the CT6 countries. During the 4th Senior Officials Meeting (SOM4) in October 2009, representatives agreed to hold the HLFRT, which was consistent with the activities identified in the Financial Roadmap for the CTI.
Indonesia leads the working group, headed by Chair Dr. Anang Noegroho. In preparation for the CTI HLFRT, Egide Cantin, Finance Specialist of the ADB RETA and Director of Sustainable Finance, Asia Pacific, The Nature Conservancy (TNC), discussed basic concepts in sustainable finance for the CTI, including the foundation for the financial architecture, scope, planning and implementation, monitoring, and donor coordination. He also stressed that sustainable financing is not about the money, but rather about trust, and about offering a good product that potential buyers will be interested to invest in.
Ms. Candice Mohan, Assistant Director, Marine Policy Development, Department of Sustainability, Environment, Water, Population, and Communities assisted the participants in identifying the main elements of a financial strategy paper and showed copies of several financial proposals to the group.
As the main discussion document on the HLFRT, the FRWG will also develop the Financial Strategy of the CTI for the first phase (up to 2012–2013), with technical assistance from the Government of Australia.
After the meeting, FRWG Chair Noegroho asked the countries to take steps to identify immediate funding needs for 2012–2013 in relation to their National Plans of Action. He recommended that for this first phase, funding needs for inclusion should be limited to:
- activities which are ready for immediate implementation;
- activities which contribute directly to implementation of the NPOA goals;
- activities which can be costed; and
- activities which have a national institutional lead.
For each of the proposed activities, a short one-page description, a costing sheet, and contact details on the institutional lead should be provided. The aim of the CT6 should be to provide a menu of items that can cater to the different ‘appetites’ of potential funding agencies.
Click here to download the presentations during the 1st FRWG meeting.