Adaptation Fund board approves six projects totaling US$ 33 million

Adaptation Fund board approves six projects totaling US$ 33 million

The Adaptation Fund Board (AFB) has announced it will fund six climate resilience projects, in Costa Rica, India, Kenya and South Africa. The decision represents a doubling in the direct access finance provided by the Fund. In addition, the Board approved almost US$150,000 in South-South grants to provide training on the Fund’s accreditation process so that more countries will be able to take advantage of direct access finance.

The decisions were taken at AFB’s 24th meeting held on 9-10 October 2014, in Bonn, Germany. The projects approved for the direct access financing will support, inter alia, agriculture, coastal zone and water resource management in Costa Rica; aquaculture, mangrove restoration, and small and marginal farmers in India; disaster risk reduction (DRR), agriculture, agro-forestry, pastoral and agro-pastoral production, water management systems, and integrated shoreline and mangrove ecosystem management in Kenya; and early warning systems, ecological and engineering infrastructure, climate-resilient crops and climate-smart techniques in South Africa.

AFB Chair, Mamadou Honadia, noted the momentum surrounding direct access finance, pointing to results on the ground and an increase in climate finance capacities at national and local levels as evidence of the direct access modality’s effectiveness.

The AFB also approved South-South grants that provide for Senegal’s Centre de Suivi Ecologique to train national entities from Chad, Niger and Cape Verde in the accreditation process.

Additional funding decisions included a grant of US$30,000 for a resilience project in Chile’s O’Higgins region and US$30 million for transboundary adaptation challenges. Overall, to date, the Adaptation Fund’s commitments total US$265 million in 45 countries

Published by: IISD 

http://larc.iisd.org/news/adaptation-fund-board-approves-six-projects-totaling-us33-million/