Adaptation Fund Board to Review 23 Project Submissions at March Meeting
Reflects Strong Demand for Fund’s Concrete Projects and Continued Momentum from COP22
Washington, D.C. (February 24, 2017) — Following a highly productive and successful showing at the COP22 international climate conference in Morocco, the Adaptation Fund will enter its 29th Board meeting in March with rising momentum.
Signaling the continued strong need and demand for climate change adaptation projects from the vulnerable developing countries it serves, the Board will review and consider 23 project submissions at its biannual meeting scheduled for March 16-17 in Bonn, Germany [to be live webcast here].
The 23 submissions received include seven regional proposals involving more than one country, and 16 single-country proposals (14 countries). Submissions include both full project proposals (14) and project concepts (nine). They have been submitted by different implementing entities accredited by the Fund, including 10 from multilateral implementing entities, six from regional implementing entities, and seven from national implementing entities (NIEs) under its groundbreaking Direct Access modality.
The Fund pioneered Direct Access, in which developing countries can access the grant finance it offers and develop concrete, localized adaptation projects directly through national implementing entities (NIEs) while building their own capacity to adapt to climate change. To date, the Fund has accredited 25 NIEs and 43 implementing entities in all with the capability to develop adaptation projects throughout the globe.
The regional project submissions include proposals to build adaptive capacity by enhancing food security and nutrition in vulnerable Afro and indigenous communities along the Colombia-Ecuador border and improving water management in the Lake Victoria Basin among five climate-affected countries (Burundi, Kenya, Rwanda, Tanzania and Uganda), while NIE project proposals range from climate smart integrated rural development in Ethiopia, enhancing community resilience in Antigua and Barbuda’s northwest McKinnon Watershed and adapting to climate change through managing water resources in Panama. The Fund’s newest NIE accredited just last November, the Environmental Project Implementation Unit of Armenia – the first Eastern European country to achieve Direct Access – also submitted its first two project concepts.
“We are looking forward to reviewing so many important submissions,” said Adaptation Fund Board Chair Naresh Sharma. “The high demand speaks to the Fund’s evolving Readiness Program in helping to strengthen entities through the accreditation and project development processes, and also the growing urgency among vulnerable communities to adapt to the increasing impacts of climate change.”
The Board meeting comes on the heels of successful outcomes for the Adaptation Fund at COP22 in Marrakech, Morocco last November, when the Fund surpassed its resource mobilization goal of US$ 80 million by raising US$ 81 million in new pledges (which rose to US$ 84 million with an additional pledge in December) while also receiving wide and growing recognition from countries as a valued contributor to operationalizing the landmark Paris Agreement through its many concrete, effective adaptation projects already happening in the field throughout the world and its innovative, flexible climate finance mechanisms. This latter support took the form of the conference’s parties strengthening the language around the Fund’s inclusion in the original Paris Agreement by removing “may” and ultimately deciding that the ‘Adaptation Fund “should” serve the Agreement’ following decisions to be taken at COP24 in 2018.
“With the incredible outpouring of support and momentum gained from Morocco, we are very pleased to see both a high demand for projects continue while the work of our implementing entities progresses toward reaching more vulnerable communities with needed adaptation solutions,” said Mikko Ollikainen, Interim Manager of the Adaptation Fund Board Secretariat.
The Board meeting will also feature transition of chair leadership and reports on program activities, further resource mobilization and medium term strategy options, next year’s work plans, a civil society dialogue and discussion on collaborations with the Green Climate Fund. The meeting also kicks off a milestone year for the Adaptation Fund: December 2017 and the upcoming COP23 later this year will mark the Fund’s 10-year anniversary and its many key accomplishments along the way since the Fund was first established through a decision during COP13 in December 2007 in Bali, Indonesia.
ABOUT the ADAPTATION FUND
Since 2010, the Adaptation Fund has committed US $357.5 million to support 55 concrete, localized climate adaptation and resilience projects in 48 countries, with more than 3.7 million direct beneficiaries.
Communications: Matthew Pueschel, firstname.lastname@example.org or +1-202-473-6743.
|Press release February 24, 2017||311 KB|