In the Investment Phase, SOFF implementing partners, including Multilateral Development Banks and UN agencies, draw on SOFF funds on behalf of beneficiary countries and integrate these grant resources into their broader concessional and non-concessional financing operations. This is to ensure that SOFF investments and outcomes are an integral part of broader investments in early warning systems, resilient development, and adaptation to climate change.
In the Compliance Phase, SOFF provides results-based finance to GBON compliant countries to substantially cover operation and maintenance costs.
The grant and long-term nature of SOFF support for SIDS and LDCs is justified on the unbalanced nature of countries’ contribution to the GBON as a global public good and their economic means to deliver; the fact that many of these countries already suffer from excessive indebtedness; and their high vulnerability to extreme events and climate change impacts.
For more information see here.
