06 Dec 2018 19:00pm
WINDHOEK, 06 DEC (NAMPA) The Environment Investment Fund of Namibia (EIF) has signed a Funded Activity Agreement worth N.dollars 140 million with the Green Climate Fund (GCF) to support climate change adaptation and disaster risk management in the Kunene Region.
A media release issued by the EIF on Thursday said the five-year agreement was signed on Wednesday by the funds Chief Executive Officer, Benedict Libanda at the 24th session of the Conference of Parties to the United Nations Framework Convention on climate change (COP 24) underway in Katowice, Poland.
It added that during the signing ceremony, Prime Minister Saara Kuugongelwa-Amadhila who witnessed the signing, said the agreement is testimony to the urgency for climate adaptation in the projects target area, the Kunene Region.
The vast region is one of the driest in Sub-Saharan Africa where communities faces the harshest impacts of climate change, she noted.
The statement went on to say the Premier explained that the five-year agreement will support resident smallholder farmers in the region to develop early warning systems and disaster risk mitigation mechanisms to improve the resilience of the agricultural sector against frequent droughts and other natural calamities.
Kuugongelwa-Amadhila further pledged the Namibian Governments continued support towards the EIF such as Cabinets resolution to allocate 30 per cent of all environmental taxes collected from potential polluting products to the fund in order to finance climate change projects and programmes.
This is in support of the provision of the constitution and several associated statutes promoting sustainable development.
The Prime Minister also gave her assurance that Government will continue to pursue additional resource allocation to the fund as it is a strong catalyst for sustainable development.
On his part the Deputy Director and Mitigation Coordinator of GCF, Andreas Biermann commended the EIF for successfully accessing funding for its third project from the multilateral climate financing agency, this time through the Simplified Approval Process.
This, he added, demonstrates exceptional leadership on the African continent in the design and implementation of climate action projects.
The 24th session of the conference of parties started on 02 December and will end on 14 December 2018.