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Brief description:
The main idea of the Project was to introduce a Climate Revolving Investment Civil Fund model along with relevant technological and organizational components as a sustainable, decentralized, community-based financial mechanism to contribute to the mitigation targets of Armenia’s INDC. The proposed project contributed to increasing the knowledge and skills of local communities to monitor and follow up on CC mitigation projects. The quantitative outcomes of the projects, including monetary savings, as well as the reduction of CO2 emissions were viewed as a source for replenishing the climate revolving fund, thereby creating additional incentives for communities in the proper formulation and monitoring of the outcomes of mitigation projects. The project aimed to select pilot communities or community unions ready to establish revolving funds through their active involvement in the implementation of mitigation measures envisaged under the INDC. An important component of the project was the training and capacity strengthening for establishing appropriate instruments for the management and oversight of the funds' operation. The proposed project also provided recommendations for corresponding legislation that would lay the groundwork for implementing Armenia’s INDC in a more comprehensive manner.
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