Home East Africa Zambia listed on Global Climate Fund – GCF

Zambia listed on Global Climate Fund – GCF

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Zambia has been listed on the Global Climate Fund – GCF- Board Meeting agenda for its 84.5 Million Dollars financing proposals in energy and agriculture.

The GCF Board Meeting, which has officially opened in Republic of South Korea, will deliberate on among other issues Zambia’s 52.5 Million Dollars private financing proposal for the energy sector and another 32 million U.S dollars public financing proposal or agriculture.

The two proposals are part of government’s off-traditional budget financing for the 7th National Development Plan projects in agriculture and energy.

The 52.5 Million Dollars proposal once approved, will be used on investment projects on renewable energy through private sector financing under the Africa Development Bank – AfDB.

And the 32 million US Dollars proposal for agriculture will be used for enhancing households adaptation to climate change effects by strengthening resilience of agricultural livelihoods in affected areas.

Zambia’s proposals represent 51 per cent of the 165. 8 million dollars for Africa.

Rwanda has made a 32.8 Million Dollars proposal in strengthening climate resilience for rural communities while Burkina Faso has made a proposal of 22.5 Million Dollars for Africa hydromet program on strengthening climate resilience in sub Saharan Africa.

Ghana, Nigeria and Uganda are proposing 26.0 for Acumen resilience agriculture fund (ARAF).

A total of 1, 190.7 million dollars worth of proposals are being considered at the board meeting.

Zambia’s, team of experts from the Ministry of Energy, Agriculture, AfDB and ZANACO are attending the meeting as observers.

Ministry of Energy Permanent Secretary Brigadier General Emeldah Chola and her counterpart at National Development Planning Chola Chabala are confident, the proposals once approved will add impetus to the implementation of development projects in the country.

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