Climate Finance Network

Climate Finance Network

Financing a climate-resilient future in Sri Lanka

Introduction

UNDP Sri Lanka is building a robust and transparent financial architecture to support the nation's climate and nature-positive goals. Critical technical assistance is provided to operationalize national finance platforms and ensure adaptation projects are built on rigorous, evidence-based analysis. This work is part of the UNDP Climate Finance Network, supported by the UK FCDO CARA Programme.

What we do

💰 Mobilizing green capital  

  • The challenge: Operationalizing national platforms to deploy finance effectively for large-scale climate and nature projects.
  • The approach: Providing targeted technical assistance to establish robust governance, risk management, and project selection systems for CANOPI, Sri Lanka’s national blended finance fund.
  • The impact: A secure, de-risked financial vehicle capable of attracting significant investments for adaptation and nature conservation.

📊 Strengthening evidence-based climate action

  • The challenge: Ensuring transparency and accountability for public spending and adaptation projects.
  • The approach: Providing support was provided for the country's first climate public expenditure and institutional review (CPEIR), alongside advocacy for the institutionalization of climate budget tagging.
  • The impact: Enhanced fiscal transparency, stronger donor confidence, and highly effective climate resilience projects that protect marginalized groups. 

Our impact in action

🤝 Mobilizing major international investment  
A flagship instrument of the national strategy is the Climate and Nature-Positive Investment (CANOPI) Fund. Concrete progress has been made in discussions with the Asian Development Bank (ADB) to capitalize the fund, unlocking significant resources for adaptation and nature conservation.

📝 Launching a national climate finance strategy 
The development of Sri Lanka’s National Climate Finance Strategy (2025–2030) was supported and officially endorsed by the Cabinet. This provides a clear, government-owned roadmap for mobilizing adaptation finance. 


To report any concerns regarding the operations of CFN in Sri Lanka, including grievances related to staff behaviour and management of funds, please contact the Project Manager:

Sugandhi Samarasinghe - sugandhi.samarasinghe@undp.org

Impact

START DATE

March 2022

END DATE

December 2028

STATUS

Ongoing

PROJECT OFFICE
IMPLEMENTING PARTNER

United Nations Development Programme

DONORS

Foreign,Commonwealth & Dev.Off.

UNITED NATIONS DEVELOPMENT PROGRAMME

TOTAL CONTRIBUTIONS

$13,889,742

DELIVERY IN PREVIOUS YEARS

2022$1,181,533

2023$1,668,139

2024$2,475,854

2025$3,416,949

2026$2,002,532

Full Project information