EIF secures N.dollars 127 million to support climate change adaptation
29 Aug 2019 17:30pm
WINDHOEK, 29 AUG (NAMPA) The Environmental Investment Fund of Namibia (EIF) has signed a funded activity agreement worth N.dollars 127 million with the Green Climate Fund (GCF) to support climate change adaptation in all 14 regions.
A media release issued by EIF on Thursday said EIF Chief Executive Officer, Benedict Libanda signed the agreement during the Global Programming Conference in Songdo, South Korea last week Friday.
The statement noted that the signed grant will be implemented in 14 regions over eight landscapes to strengthen climate resilience of the vulnerable rural communities through ecosystem-based adaptation agricultural approaches.
It added that the project is based on the premise that biodiversity and ecosystems provide valuable services that increase the climate resilience of local communities.
Activities undertaken as part of the project will maintain and enhance ecosystem integrity to continue to support the generation of food and income in order to reduce the severity of negative socio-economic impacts of climate change on vulnerable rural households, it said.
The statement further noted that the project comes at an opportune time when President Hage Geingob in May this year declared a state of emergency on account of the prevailing drought.
The project will be implemented through the Ministry of Environment and Tourism as the national designated authority of the GCF.
It concluded that to date, EIF managed to mobilise more than N.dollars 500 million worth of projects in the areas of agricultural resilience, renewable energy and ecosystem base adaptation from GCF.