Mobilizing Resources for Supporting Environmental Activities in Developing Countries: The Case of the GEF Trust Fund
AbstractMobilizing sufficient resources is essential for supporting environmental activities in developing countries, and cofinancing is generally considered an important tool to help developing countries increase the resources they need. Moreover, cofinancing should increase ownership of projects by local authorities while improving accountability. The literature, however, has not explored why certain projects receive higher levels of cofinancing than others. This paper attempts to fill this gap by examining the cofinancing ratio and its determinants using projects financed by the GEF Trust Fund. The empirical results confirm that the rules of the fund, requiring different minimum cofinancing ratios by size and focal area of the GEF projects, do matter. Other important factors include funds’ origins (foreign vs. domestic), types of cofinancing sources (reimbursable vs. non- reimbursable) and the particular GEF agencies involved.
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Bibliographic InfoPaper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 4780.
Date of creation: Jun 2012
Date of revision:
Find related papers by JEL classification:
- F30 - International Economics - - International Finance - - - General
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
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- Santanu Chatterjee & Georgios Sakoulis & Stephen Turnovsky, 2000.
"Unilateral Capital Transfers, Public Investment, and Economic Growth,"
0008, University of Washington, Department of Economics.
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- Santanu Chatterjee & Georgios Sakoulis & Stephen Turnovsky, 2000. "Unilateral Capital Transfers, Public Investment, and Economic Growth," Discussion Papers in Economics at the University of Washington 0008, Department of Economics at the University of Washington.
- Santanu Chatterjee & Georgios Sakoulis & Stephen Turnovsky, 2000. "Unilateral Capital Transfers, Public Investment, and Economic Growth," Econometric Society World Congress 2000 Contributed Papers 1936, Econometric Society.
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