COP31 Launches New Climate Finance Initiative for Developing Countries
NEW YORK: A new international initiative linked to the upcoming COP31 climate conference is seeking to help developing countries turn their climate commitments into projects that can attract funding, addressing one of the major challenges facing nations working to strengthen climate resilience.

The initiative, known as the Climate Implementation Bridge, or BRIDGE, has selected five countries for its first pilot phase: Fiji, Ethiopia, Indonesia, Pakistan and Uzbekistan.
The programme is designed to help participating governments develop projects that are financially viable and aligned with both national climate plans and broader development priorities. The goal is to make climate projects more prepared for investment and improve countries’ ability to access international climate finance.
For many developing countries, the challenge is not limited to identifying climate priorities. Governments can also face difficulties in converting those priorities into detailed projects capable of meeting the technical and financial requirements of international lenders and climate funds.
BRIDGE is intended to address this gap by providing support during the project-development process. It will also work to strengthen national capacity so governments can more effectively identify financing opportunities and prepare proposals.
The initiative is being delivered in partnership with the United Nations Development Programme, bringing together climate-planning and development expertise as countries prepare projects for potential investment.
Fiji’s participation is particularly significant because the Pacific island nation faces substantial exposure to climate-related risks, including sea-level rise, coastal impacts and extreme weather. The initiative could provide another pathway for turning adaptation priorities into projects capable of attracting financial support.
The pilot programme is expected to generate practical lessons that could later be applied to additional developing countries. Officials involved in the initiative have indicated that there is already interest from small island developing states and least developed countries.
The announcement comes as international attention increasingly focuses on the gap between climate commitments and actual implementation. Governments around the world have announced emissions-reduction and adaptation targets, but turning those commitments into infrastructure, clean-energy projects and resilience programmes requires substantial investment.
The new initiative is therefore aimed at the implementation stage rather than simply setting new targets.
Climate finance has become one of the central issues in international climate negotiations. Developing economies frequently require external financing for renewable energy, resilient infrastructure, disaster preparedness, urban adaptation and other climate-related investments.
Another component announced alongside BRIDGE is a Sustainable Urban Resilience Financing Facility, which is intended to help developing countries finance climate-resilient projects in cities.
Urban areas face growing climate pressures as populations increase and extreme weather affects infrastructure, transport, water systems and housing. Financing resilient urban development can therefore play an important role in reducing future climate-related losses.
The initiatives are being introduced ahead of COP31, which will take place in Antalya, Türkiye, from November 9 to 20, 2026. The conference is expected to place significant attention on climate finance, implementation and adaptation.
The experience of the five pilot countries could help determine whether the new approach can be expanded internationally. If the programme succeeds in improving project preparation and access to financing, it could provide a model for other developing economies facing similar barriers.
For climate-vulnerable countries, the availability of finance is only one part of the challenge. Governments also need technical expertise, institutional capacity and well-developed projects capable of moving from planning to implementation.
BRIDGE is designed to connect these elements and help close the gap between climate ambitions and projects that can actually be financed and built.
The initiative adds another layer to the growing international effort to accelerate climate action at a time when governments are under pressure to deliver measurable progress on both emissions reduction and adaptation.