Terminal Evaluation of the UNEP/GEF Project “Building Climate Resilience through Innovative Financing Mechanisms for Climate Change Adaptation” GEF ID 5523 (2016-2023)

This report provides a Terminal Evaluation of the UNEP/GEF project: “Building Climate Resilience through Innovative Financing Mechanisms for Climate Change Adaptation”, implemented from 2016 to 2023. The project's main aim was to enhance national and subnational capacity for medium- and long-term adaptation planning, facilitate access to innovative financing mechanisms, and implement cost-effective, ecosystem-based adaptation measures for communities and sectors vulnerable to climate change in Antigua and Barbuda. The evaluation assessed project performance (in terms of relevance, effectiveness, and efficiency) and the sustainability of its outcomes. Its two primary purposes are accountability and learning. Data collection involved field observations, in-depth interviews, and document reviews. Data analysis was based on triangulating information to evaluate performance against a reconstructed Theory of Change and its causal pathways. With an overall performance rating of Moderately Satisfactory, on a six-point scale, key findings include: i) the project aligned with national and global climate goals, successfully launching the SIRF Fund’s Adaptation Window to provide concessional loans for household adaptation—an innovative, scalable model suitable for SIDS; ii) strong national ownership led to significant outcomes, such as flood mitigation for over 5,000 households, climate-resilient planning tools, and gender-inclusive governance, laying a foundation for long-term resilience; iii) project delivery was hindered by inactive oversight bodies, poor documentation, and delayed financial reporting, underscoring the need for stronger institutional systems and contingency planning. Main recommendations to UNEP include: i) documenting and sharing project outputs and lessons learned; ii) establishing robust management and financial systems from the outset; iii) supporting policy mainstreaming through enforceable mechanisms and stakeholder validation; iv) expanding the SIRF Fund to incorporate hybrid financing models and inclusive targeting; and v) strengthening post-loan support via ongoing technical, financial, and capacity-building assistance.