1.4.4 Lead agent or intermediary

The lead agent or intermediary is the main actor responsible for implementing the finance solution. This could be a ministry, a protected areas agency, a private company or business association or any other type of entity. The lead agent or intermediary’s role should be considered in detail when developing or implementing a finance solution. Some issues to consider include the agent’s motivation, capacity, integrity, and financial stability, among others. The Ministry of Finance is often the lead agent in tax and subsidy reforms. A commercial bank maybe the main intermediary in a green bond issuance. A well-designed finance solution may fail simply because the intermediary does not have the capacity or time to develop the required capacity.