Financing Climate Change Adaptation in Transboundary Basins

28 Financing Climate Change Adaptation in Transboundary Basins projects within broader regional initiatives, provide valuable information, and help coordinate aspects of project preparation, implementation, and follow-up. This is a risk mitigating factor for financiers of transboundary projects and improves bankability compared to a series of individual national projects. 3.1 Stage 1: Identifying Potentially Bankable Projects A clear and well-grounded understanding of the pro- jected climate impacts is a critical foundation for identi- fying and developing bankable projects. Although basin organizations, designated information gathering sys- tems, or adaptation plans are not available in all trans- boundary river basins, where they exist, river basin organizations (RBOs) can compile critical information for identifying bankable projects from countries in the basin. They can compile national communications (prepared in each country for United Nations Framework Convention on Climate Change [UNFCCC] reporting); identify information gaps; carry out stake- holder consultation; research, assess, and report; eval- uate related national and regional development policies; and help countries with prioritization. All bankable projects are based on good climate change research, data, and analysis. Transboundary RBOs can support or provide regional and basinwide the following: • Climate information systems • Stakeholder engagement • Research, evaluation, reporting • Alignment with policies • Prioritization processes • Resilience planning • Resource identification and mobilization In transboundary river basins, adaptation will always take place within a backdrop of multiple coexisting national, regional, and global climate change and devel- opment policies. Project proponents must identify all potentially related policies and ensure that (i) the proposed project aligns with existing priorities and when possible; and (ii) supports the achievement of additional other priorities. Increasingly, RBOs have or are developing climate adaptation strategies based on available information on climate change impacts predicted throughout the respective basins. This work will support availability of information for all countries within the basin and improve bankability of projects at the transboundary level. Articulating the policy align- ment of proposed projects significantly strengthens bankability. Check alignment with related policies and plans, such as the following: • National Adaptation Programme of Action (NAPA) • National Adaptation Plan (NAP) • National Climate Change Strategy and Action Plan (NCCSAP) • Sustainable Development Goals (SDGs) • National development strategy plans (e.g., 20-year and five-year plans) • Relevant sectoral strategies and plans • Relevant subnational and regional plans • Gender strategies, policies, frameworks, and action plans Whether a project is bankable depends on criteria and procedures required by each financial institution or fund- ing source . As RBOs or other basin- or country-level project proponents identify needs, they can assess which source might be best suited for which area of action. Each financing source varies in its objective,