Climate Action Peer Exchange (CAPE) is a forum for peer learning, knowledge sharing, and mutual advisory support. It brings together ministers and senior technical specialists from finance ministries across the world, as well as World Bank staff and other international experts, to discuss the fiscal challenges involved in implementing the Nationally Determined Contributions (NDCs) established under the 2015 Paris Agreement.

The dismantling of the Soviet Union in the early 1990s led to the near collapse of the Armenian diamond cutting industry, which after a brief period of growth in the early 2000s has again declined. To rebuild the industry using global best practices and to increase access to raw diamonds, the Armenian government contacted the World Bank. Meanwhile, Lesotho had identified the diamond industry as a potential source for growth and had commissioned three diamond mines. The government also wanted to attract foreign direct investments and train high-skilled local labor to add value downstream.