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Financial barriers
in order to mainstream climate considerations into
their implementation.
In addition, improvement in the coordination of
existing actions (implemented with donor support)
by the government will help to increase the efficiency
of the response to climate change challenges.
Despite the fact that some of the countries have
already started to allocate funds for adaptation
measures, the share of resources spent on adaptation
from national budgets is still low and insufficient.
The three countries of the South Caucasus, when
compared to most European countries, have limited
financial resources: Armenia’s GDP is US$ 10.8 billion,
Azerbaijan’s US$ 75.2 billion and Georgia’s GDP is
US$ 16.5 billion (World Bank 2015); the financial
gap is also exacerbated by the high inflation that
affects all three countries. However, this does not
mean that countries cannot consider different and
innovative ways of reducing climate risks through
knowledge sharing and leveraging the know-
how of developed countries, or reviewing existing
expenditures on different infrastructural projects
Wildflowers in the Ismailli mountains, Azerbaijan