Climate Resilient Fiscal Planning in Armenia
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This working paper highlights Armenia’s progress and needs in scaling up finance for comprehensive adaptation investments and fiscal planning to deepen resilience to climate change.
It presents a three-function framework that developing countries can use to assess and manage the risks to fiscal stability from climate change, and to optimize financial resources to promote climate action and encourage private sector investment in adaptation. The paper recommends an institutional and investment focus based on detailed sector-specific adaptation plans. Armenia’s experiences demonstrate the importance of integrating rigorous sectoral risk analysis into budget processes to manage climate-related fiscal risks, and strategic governance of the private sector to ensure financial sustainability.
Contents
- Executive Summary
- Introduction
- Climate Fiscal Risk Assessment
- Climate Fiscal Risk Management
- Climate Finance Optimization to Fund and Finance Investment in Adaptation
- Conclusions
- References
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