The Executive Secretariat of the Council of Finance Ministers of Central America, Panama, and the Dominican Republic (Spanish acronym: SE-COSEFIN), along with the Economic Commission for Latin America and the Caribbean (ECLAC), and the Swiss Agency for Development and Cooperation (SDC) officially launched the project Capacity Building for the Incorporation of Disaster Risk Reduction and Sustainable and Inclusive Adaptation to Climate Change in Public Investment in COSEFIN/SICA Member Countries in San Salvador, El Salvador.
The goal of the project is to contribute to the reduction of losses and damages caused by disasters and the response to the climate emergency through the inclusion of measures for disaster risk reduction and sustainable and inclusive adaptation to climate change in the life cycle of public investment projects.
Hundreds of national and regional experts will strengthen their capacity to protect public investments, ensuring the continuity of services to the population and thereby improving the population’s wellbeing, as well as contributing to the reduction of poverty in Central America.
This project responds to the priorities identified in the Regional Work Plan in COSEFIN’s Fiscal Interest Matrix, aiming to contribute to various areas of this plan, which includes “efficiency in the management of public investments”, “fiscal risks”, “modernization and coordination of public policies and administrative tax and customs”, and “budgetary processes”, with due consideration to the interrelations between these areas.
The project is co-managed with COSEFIN’s Regional Technical Committee (in Spanish: Comité Técnico Regional) made up of delegates from the ten Ministries of Finance and Planning responsible for public investment and the Executive Secretariat of the Council with the technical support of ECLAC.
This project supports the implementation of the regional agenda for public investment and green fiscal instruments promoted by COSEFIN to respond to climate change and contribute to achieving the Sustainable Development Goals (SDGs) in Central America and the Dominican Republic. It will contribute to the aim of other important regional instruments such as the Central American Comprehensive Risk Management Policy (Spanish acronym: PCGIR) and the Regional Strategy on Climate Change (Spanish acronym: ERCC) and its Implementation Plan for 2018-2022, the Master Plan on Mobility and Logistics in Central America, the Strategy on Sustainable Agriculture Adapted to Climate 2018-2030 (EASAC), among others, all approved by Councils of Ministers and Summits of SICA Presidents.