The seven new project proposals amounting to around $4.7 million have been approved by the Africa Climate Change Fund (ACCF).
AFDP report indicates that, the newly approved projects increases ACCF’s overall portfolio of 15 projects. These projects demonstrate how the ACCF helps Regional Member Countries to finance climate-resilient, low-carbon development. They will expand the ACCF’s geographic reach and diversify its field of intervention. The projects align with the Bank’s Strategy 2013-2022 and Climate Change Action Plan 2016-2020.
The approved projects are Syntropic agriculture as a strategy to foster resilience, climate adaptation and recovery of vulnerable communities living in degraded marine and coastal ecosystems in Mozambique; Building climate resilience through youth and women farmers; Removing barriers to climate finance access by local governments/municipalities will remove barriers hindering local government’s access to international climate finance.
While projects like Local Climate Adaptive Living Facility (LoCAL) – Benin and Lesotho will scale up the United Nations Capital Development Fund’s LoCAL Mechanism which supports local governments to execute climate resilient development projects using performance-based grants.
Also, Green energy for women and youth resilience in Uganda and Kenya will support the transition to low carbon development and scale up access to climate finance by boosting the development of the Sustainable Energy Value Chain, focusing on women and youth engagement; The Africa NDC Hub is also among the projects that will be implemented by the African Development Bank in collaboration with other partners, report said.
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