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Monday, January 11, 2021

Climate Financing: IFAD, GCF scale-up action to improve life for African farmers – ITREALMS

ITREALMS ... making leadership SENSE with digital news! 

A new investment programme in support of Sahelian governments through a partnership between the Green Climate Fund (GCF) and the International Fund for Agricultural Development (IFAD) to boost climate finance for rural populations has been consummated, reports 
ITREALMS
This, ITREALMS gathered is coming as millions of poor farmers living in this acclaimed world’s most climate-impacted parts of the Sahel would now have cause for hope because of their governments’ support for accelerating Africa’s Great Green Wall (GGW).
GGW area, 
ITREALMS recalls covers some 11 countries from Senegal and Mali in the West to Ethiopia and Djibouti in the East. 

ITREALMS also recollects that at the request of Sahelian Ministers in September 2020, IFAD and other GCF accredited entities will submit projects for funding consideration by the GCF’s Board, under this new Great Green Wall Umbrella Programme (GGW Up). IFAD will lead the set up of the programme and ensure its coordination with other partners. Project activities will aim to restore ecosystems and tackle the interlinked issues of climate change, job creation, poverty alleviation, food security and peace building.

Yannick Glemarec, the Executive Director of the Green Climate Fund, pointed out that “GCF is committed to scaling up the efforts of Sahelian countries to establish and develop the Great Green Wall, combating the effects of drought, deforestation and climate change. With an expanded focus on strengthening sustainable agricultural value chains across the region and increased private sector investment in decentralized renewable energies, this innovative programme will boost climate adaptation and resilience of millions of people, as well as supporting local ecosystems and biodiversity.”

“IFAD is determined to help rural populations in the Sahel build dignified lives. Stronger resilience to climate change, more biodiversity, greener pastoral and arable land means better food security, higher incomes, less migration and more stability,” said Gilbert F. Houngbo, President of IFAD, the UN agency dedicated to eradicating rural poverty and hunger. “We are glad to bring our 40 years of expertise to work with partners to make the Great Green Wall a success.”

Although IFAD is a new partner to the GGW initiative, it brings 40 years of experience working with vulnerable rural populations in the Sahel and a proven track record of greening Sahelian areas, with ongoing investments amounting to $480 million in the GGW area. To scale up these efforts, IFAD and other GCF accredited entities will also submit projects and programmes to the GCF Board, which together will aim to leverage up to a total of $1 billion in multi-partner resources for the GGW in 2021 and 2022. 

Nenye Dom/Editor

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