Seven Low-Income Countries Move to Global Forefront on Climate Resilience and Sustainable Management of Forests
Countries get $534 million for bold plans to climate-proof water, farming, forests, and cities.
July 1, 2011
The Climate Investment Funds (CIFs), a partnership of five multilateral development banks, approved $444 million in grants and near-zero-interest loans to support Cambodia, Mozambique, Nepal, St. Lucia, and Zambia in their efforts toward national-level climate resilience. Also in Cape Town two new investment plans were endorsed for Burkina Faso and Democratic Republic of Congo for a total of $90 million in grants.
Under the CIFs’ Pilot Program for Climate Resilience, five nation-wide strategic programs for climate resilience were approved: $105 million for Cambodia to improve irrigation, flood and drought management, climate-resistent agriculture and forestry in coastal areas, and mainstream climate resilience into development planning; $102 million for Mozambique to improve the capacity of roads and coastal cities to withstand climate change, transform their hydro-meteorological services, and enhance climate-resilient agricultural production and food security; $110 million for Nepal to build climate resilience of watersheds in mountain regions, build resilience to climate-related hazards, and build climate-resilient communities through private sector participation; $17 million for St. Lucia to build national climate resilience (as part of the Caribbean Regional Program); and $110 million for Zambia to strengthen climate resilience in Barotse and the Kafue River Basin.
The total $444 million funding envelope for these five countries is nearly half grants ($207 million) with $237 million in near-zero-interest credits. These countries join Bangladesh, Grenada, and St. Vincent and Grenadines as the first eight countries in the world to create Strategic Programs for Climate Resilience (SPCRs) linked to their development plans with CIF support.
“The CIF's Strategic Climate Fund gives priority to highly vulnerable least developed countries, including the small island developing states. As momentum grows for climate action on the ground, the CIFs can be a real game-changer," said Admed Shafeeq Ibrahim Moosa, the Presidential Envoy for Science and Technology from the Maldives, and co-chair of the CIF’s Strategic Climate Fund, at the end of the first week of meetings.