Adaptation Fund Board Approves Project for Financing and Accredits Two Implementing Entities
Bonn, Germany, September 16, 2011 – The Adaptation Fund Board reaffirmed its commitment to the operationalization of the direct access finance modality with the accreditation of the Protected Areas Conservation Trust (PACT) of Belize as a National Implementing Entity (NIE). This accreditation decision brings the count of NIEs to six, and is the first for Central America. In addition, the Board also accredited the African Development Bank as a Multilateral Implementing Entity (MIE), making the entity the Board’s ninth MIE. The accreditation decisions of the Board’s 15th meeting follow the recent accreditation of a NIE for South Africa.
The Adaptation Fund Board also approved grant funding for one concrete climate change adaptation project in the African island nation, Mauritius with a total value of US$ 9.12 million. The project, to be implemented by the United Nations Development Programme (UNDP), involves the protection of vulnerable coastal ecosystem and community features at three priority sites through design and construction of coastal protection measures, planting of mangroves to protect the shoreline, establishing an early warning system, as well as arranging training activities, conducting policy mainstreaming, and managing adaptation knowledge.
The Adaptation Fund Board discussed its continuing work together with the United National Framework Convention on Climate Change (UNFCCC) to organize regional workshops to familiarize countries with direct access, the innovative feature that provides developing countries themselves the opportunity to implement projects through NIEs. The first workshop took place on September 5-6, 2011 in Mbour, Senegal for the African region. The next workshop is planned for the Latin America and Caribbean region in Panama in November 2011.
The Board continued discussion on allocation of its resources, particularly within the context of regional projects and programmes. The current amount of available funds in the Fund after the new approval is US$165 million, expected to increase to US$353 million by the end of 2012.
The Board also decided to amend its Operational Policies and Guidelines to enhance clarity in its procedures.
The Board meets next in Durban, South Africa, December 12-14, 2011 immediately following the UNFCCC Conference of the Parties. A civil society dialogue will precede the Board meeting on December 11, 2011.
The Adaptation Fund is a self-standing fund established under the Kyoto Protocol of the UN Framework Convention on Climate Change, which gets the main part of its funding from a two percent share of proceeds of all Certified Emission Reductions issued under the Protocol’s Clean Development Mechanism projects. The Fund is designed to finance concrete climate change adaptation projects and programs based on the needs, views and priorities of developing countries. The Global Environment Facility provides secretariat services to the Adaptation Fund and the World Bank serves as its trustee, both on an interim basis.
Media contact: Marcia Levaggi, Manager, Adaptation Fund Board Secretariat, email@example.com or +1-240-755-6904.