The Green Climate Fund (GCF) has doubled the amount of approved climate finance during the past year, to assist developing countries implement climate change actions.
The climate actions include adaptation, mitigation, technology transfer, capacity building and reduction of emissions from deforestation and forest degradation.
This was announced at the 23rd Conference of Parties (COP23) of the United Nations Framework Convention on Climate Change (UNFCCC) taking place in Bonn, Germany.
GCF Board Co-Chair, Ayman Shasly from Saudi Arabia, said GCF is picking up its speed to program resources for the implementation of ambitious, standard shifting action.
“At our last board meeting that was held in Cairo, Egypt in October 2017, we allocated USD 500 million [about K467 billion ] to a request for proposals under the pilot program on reducing emissions from deforestation and forest degradation in developing countries,” said Shasly.
He explained that the GCF has approved a total of USD 2.65 billion for 54 climate change projects and programs to be implemented in 73 developing countries that include Malawi.
“The GCF will continue to respond to the guidance from the UNFCCC Conference of Parties in channeling climate finance to developing countries to promote a standard shift towards low emissions and climate resilience development pathways.
In Malawi, GCF is funding the Modernized Climate Information and Early Warning Systems (M-CLIMES) project with MK8 billion and is expected to phase out in 2023.
The EWs project is being implemented by the United Nations Development Program (UNDP), Department of Disaster Risk Management (DoDMA), Department of Climate Change and Metrological Services (DCCMs), National Smallholder Farmers of Malawi (NASFAM) and other partners.
M-CLIMES will support the government of Malawi to take steps to save lives and enhance livelihoods at risk from climate-related disasters.
The project will develop and disseminate tailored climate information products targeting smallholder farmers as well as fisher folks. It will also strengthen the capacity of communities to respond to climate-related disasters and take urgent responsive action.
860,000 males and 860,000 females will directly benefit from the project through improved EWs and risk reduction measures for agriculture livelihoods.
Evans Njewa, Chief Environmental Officer in the Environmental Affairs Department who also serves as a member of the GCF representing 47 least developed countries, disclosed that Malawi has also submitted other funding proposals on adaptation in agroforestry.
The country is also developing a climate resilient agriculture project that will be submitted to the GCF in due course.
“The country also stands to benefit from US$3 million from the GCF when its proposal gets approved by February 2018 to formulate a national adaptation plan for medium and long term periods in vulnerable sectors,” said Njewa.
He said that includes agriculture (crops, livestock), forestry, disaster risk management, fisheries, energy, health, gender, and water sectors.
The COP established the Green Climate Fund in 2010 as a dedicated international climate finance institution, and asked the board to report on the funds’ progress annually.