CO-FINANCING
Pacific Islands Oceanic Fisheries Management Project II
Project Design Consultation
SPC Headquarters, Noumea, New Caledonia
Friday 8 March 2013
Co-Financing
The purpose of this paper is to explain the GEF
approach to co-financing, and the implications
in terms of:
a) estimation of co-financing for the Project;
b) the nature of country endorsement required
c) reporting on co-financing
Background
1.
1. GEF Co-financing is the resources committed by governments,
multilateral or bilateral sources, private sector, NGOs, project beneficiaries
and concerned GEF agency, which are essential for meeting the GEF
project objectives
2. Co-finance for GEF projects is important to the GEF because it:
a) expands the resources available
b) indicates the strength of the commitment of the counterparts,
beneficiaries, and others; and
c) helps ensure the success and local acceptance of projects
3. For OFMPII, the GEF requirement is that the Co-financing/GEF Grant ratio
should be 3:1.
OFMPII Approach
Much simpler than OFMPI
Includes the costs of:
i) participation in WCPFC meetings
ii) relevant new posts (73) established since the
WCPFC was established
iii) the costs of onboard observer programmes
iv) financial contributions to the WCPFC
v)a few other specific relevant programmes
Source
1
Regional
Total SIDS
8,917,445
0 24,235,535
0
11,966,592
5,395,967 18,669,511
2,589,419
2,032,710
40,654,199
FFA
2 SubRegional
SPC
3
National
Knowledge
Project
Management Management
Total
0 33,152,980
0
6,553,000
500,000
0
7,053,000
0
0
500,000
0
0
500,000
FAO in-kind
1,000,000
1,000,000
500,000
0
0
2,500,000
UNDP cash
91,667
91,667
0
0
36,667
220,000
158,333
158,333
0
0
63,333
380,000
0
2,000,000
0
0
0
2,000,000
200,000
0
200,000
3,289,419
2,132,710
86,660,179
FAO cash
UNDP
inkind
PNA
PITIA/WWF
TOTAL
22,134,037
8,645,967 50,458,046
WP7, page 3
Cook Is
FSM
Fiji
Kiribati
Marshall Is
Nauru
Niue
Palau
PNG
Samoa
Solomon Is
Tonga
Tuvalu
Vanuatu
Total
Meetings
Posts
Costs
152,000
40,000
152,000
116,000
412,000
118,800
190,000
100,000
282,000
200,000
152,000
40,000
22,000
80,000
87,000
380,000
1,490,000
375,840
282,000
400,208
412,000
126,454
240,000
80,000
282,000
104,000
412,000
964,000
4,567,000 3,125,302
Observers
Other
100,000
1,200,000
187,200
1,200,000
3,600,000
320,000
40,000
90,000
200,000
5,760,000 6,912,000
40,000
520,800
220,234
240,000
480,000
13,998,234 7,112,000
WCPFC
Cont.
128,772
203,576
170,476
394,656
753,608
106,392
105,344
108,416
1,134,120
137,396
197,396
126,200
182,104
601,989
4,350,445
Total
420,772
1,671,576
888,476
1,884,656
4,835,608
618,392
247,344
865,416
15,671,960
859,604
1,256,650
666,434
808,104
2,457,989
33,152,980
Action
1. Meetings
2. Monitoring Posts
(Observer Chief,
Compliance Chief)
National Co-Financing example
Cost/Yr (US$)
4 Yr Cost (US$)
38,000
152,000
29,000
116,000
3. Observer Costs (250 trips
@ US$1200/trip)
300,000
1,200,000
4. WCPFC Contributions
50,894
203,576
Total
417,894
1,671,576
Co-Financing Letter (From the Fisheries agency)
Subject: Cofinancing Commitment for the ____ Project
This is to indicate our commitment to collaborating in the “xxxx”
project.
We are pleased to confirm our commitment to provide co-financing
in the amount of USD xxxx towards the realization of the objectives
of the project over the xxx-year life of the project. This amount will
be comprised of US$ xxxxx in-kind and US$ xxxx in cash. We look
forward to collaborating closely with UNDP, FAO, FFA, SPC and other
partners to ensure the successful implementation of this project.
Sincerely yours,