By Ayrton Kibet.
The Nigerian newspaper, Business News, reports that the Global Environment Facility (GEF) has given USD 43 million to the African Development Bank to promote Africa’s climate resilience. The funds are projected to encourage around USD 360 million in co-financing.
AfDB will distribute the funds among three projects; the Mano River Union Ecosystem Conservation and International Water Resources Management Project, the Climate Change Center of Technology Project and the Public-Private Partnership Platform for Renewable Energy Technologies.
The Mano River Union Ecosystem Conservation and International Water Resources Management Project which covers Sierra Leone, Guinea, Côte d’Ivoire and Liberia was granted USD 6.3 million. This shall be used for integrated land management, agroforestry and management of Trans-boundary waters.
An allocation of USD 15.8 million went to the Climate Change Center of Technology Project which is designed to help reduce Green House Gas (GHG) emissions and vulnerability to climate change.
The Public-Private Partnership Platform for Renewable Energy Technologies is set to support projects that increase the power supply from renewable energy sources and ultimately contribute to the delivery of universal power supply as well as Green House Gas reductions in Africa. The Partnership wich is aiming to raise USD 170 million from the private sector was allocated USD 21.6 million.
