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African Development Bank and Global Center on Adaptation Work with Partners to Enhance Capacity to Access Climate Adaptation Funding

loganalytics?press id=229332&press source=African Development Bank Group (AfDB) | African Development Bank and Global Center on Adaptation Work with Partners to Enhance Capacity to Access Climate Adaptation Funding | The Paradise News

The African Development Bank (www.AfDB.org) and Global Center on Adaptation today launched a new initiative under the Technical Assistant Programme of the Africa Adaptation Acceleration Program (https://bit.ly/3FwHk5R) to help African countries access more climate adaptation funding.

A climate rationale is the scientific basis of a project and describes the climate change scenario, outlining the climate problem in a particular country (e.g., flooding, droughts for an adaptation project) and region that the project will be implemented in. The rigorous requirement by Green Climate Fund for climate rationale based on 30 years of point-source climate data has led to a high attrition rate for funding proposals with an adaptation focus.

Through this new initiative, Direct Access Entities in Africa will receive additional support to enhance their capacity with regards to climate data, tools, and methodologies that help them meet the critical requirements of climate rationale for compelling funding proposals that could merit approval by the GCF Board.

The GCF is one of the mechanisms of the United Nations Framework Convention on Climate Change to significantly contribute to the global efforts towards attaining the goals set by the international community to combat climate change. It supports developing countries to limit or reduce their greenhouse gas emissions and adapt to climate change impacts. For adaptation, it allocates resources based on: (i) the ability of a proposed activity to demonstrate its potential to adapt to the impacts of climate change by promoting sustainable development and a paradigm shift; (ii) the urgent and immediate needs of vulnerable countries, in particular, Least Developed Countries, Small Island Developing States and African States.

The African Development Bank and the Global Center on Adaptation will work with their partners to select at least four proposals each year based on the pipeline of Direct Access Entities funding proposals that require additional technical assistance and guidance. Through its Technical Assistance Programme (TAP), the Global Center on Adaptation will provide technical assistance for a selected set of funding proposals.

The launch event for the new initiative took place in Abidjan, Cote d’Ivoire, on the 6th and 7th of December with program partners including the Green Climate Fund (GCF), World Meteorological Organization (WMO), Africa Climate Change Fund, ClimDev Special Fund and Regional Climate Centers in Africa.

23 Direct Access Entities accredited or at the final stage of accreditation to GCF participated in the two-day event with representatives of regional and international accredited entities, including the Development Bank of Southern Africa, the International Fund for Agricultural Development, the West African Development Bank, the Africa Finance Corporation and the United Nations Environment Program.

In opening remarks, Professor Anthony O. Nyong, Senior Director for Africa at the Global Center on Adaptation said, “Africa is on the frontline of our climate emergency. Through this new initiative, we aim to significantly increase the flow of adaptation finance to the region. Given the central role of the Green Climate Fund, the unprecedented volumes of funding it offers, the range of financial instruments it provides, and its different access modalities, we will initially focus this initiative on accessing GCF resources, but this is just the start of our long-term partnership with African countries to mobilize finance for climate adaptation across the continent. »

Dr. Al Hamndou Dorsouma, Acting Director of the Department of Climate Change and Green Growth at the African Development Bank, said, “climate rationale for GCF funding proposal is like the foundation of a building. A solid building should have a solid foundation and I am glad our bank has forged the collaboration with relevant regional and international institutions to help direct access entities secure approvals for more funding proposals on adaptation with strong climate rationale.”

Dr. Kevin Horsburgh, Lead Climate Scientist representing GCF, noted, “To promote transformational projects and catalyze climate finance at scale, GCF follows a four-pronged approach: transformational planning; catalyzing innovation; de-risking high impact projects; and aligning finance with sustainable development. Each step needs the best available information to assist decision-making. The GCF is pleased to be working with the WMO to create the bridge between climate information and all those who need to use it, to improve access to climate finance.”

Amir Delju, Senior Scientific Officer with the World Meteorological Organization, said, “Effective and progressive response to the urgent threat of climate change should be based on ‘the best available scientific knowledge.’ We recognize that it is very challenging for least developed countries to meet this requirement. As an expert service provider, WMO will continue providing the full value cycle of climate services, from data to analysis, information production, interpretation of the findings, and expert advice.”

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contacts:
Romaric OLLO HIEN,
Communication and External Relations Department,
African Development Bank,
email: [email protected]

Technical Contact:
Timothy Afful-Koomson,
GCF Coordinator, African Development Bank,
email: [email protected]

Ali Haider,
Senior Program Officer, Climate Finance,
Global Center on Adaptation,
email: [email protected]

About the African Development Bank Group:
The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 44 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states.

For more information: https://bit.ly/3VEmKX2

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Source: APO

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