Bank Training to Expand Investments in Climate Change Adaptation Via Global Environment Facility

04/09/2012
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In an effort to expand financing opportunities for climate change adaptation, the Energy, Environment and Climate Change Department of the African Development Bank (AfDB) and the Global Environment Facility (GEF) held a training program for Bank staff on July 18 and 19 in Tunis, Tunisia. The event gave Bank task managers, country economists and country portfolio officers a better understanding of two financing windows established under the Climate Change Conventions and hosted at the GEF: the Least Developed Countries Fund (LDCF) and the Special Climate Change Fund (SCCF) totaling US $780 million in pledges.

“Africa has contributed less than other regions to global climate change, but the continent’s economy and population are expected to suffer disproportionally from the negative effects. Adaptation is essential, and these two funds offer significant financing,” stated Mr. Ignacio Tourino, GEF Coordinator, Energy, Environment and Climate Change Department, AfDB.

Ms. Bonizella Biagiani, Head of the Adaptation Program at the GEF, went on to explain that these funds do not function on a single allocation per country but according to a ceiling, which is currently estimated at US $20 million per country. Projects can be prepared and approved on a rolling basis. Bank staff participating in the training had an opportunity to learn about project eligibility criteria and work through the preparation process using actual funding requests.

The training was also an opportunity for the GEF team to discuss with AfDB management how to increase the Bank’s participation in implementing these funds and identify project financing opportunities in the short to medium term.