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US$1mn fund granted to support climate finance access in Benin and Lesotho

The goal aims to improve the climate resilience of communities and local economies by increasing investments in climate change adaptation in target areas. (Image source: Chris LeBoutillier/Pixabay)

The Africa Climate Change Fund (ACCF) has approved a project proposal for a total of US$997, 524 to support Benin and Lesotho to access international climate finance, an initiative underpinned by evidence that adaptation to climate change must start locally

While local responses can create opportunities for innovative solutions, most local governments in the least developed countries lack the institutional, technical and financial capacities to contribute to building resilience. Benin and Lesotho are two African countries which face such challenges and need more local-level investments to undertake measures to enhance water retention, promote more resilient farming and irrigation methods and climate-proof existing infrastructures such as water wells, bridges and rural roads.

The project proposal, approved in September, has been designed with the goal to improve the climate resilience of communities and local economies by increasing investments in climate change adaptation in target areas.

The project seeks to support

· Development of high quality, bankable projects aligned with African countries’ Nationally Determined Contributions (NDCs)

· Identification and strengthening of national institutions and stakeholders to access the Green Climate Fund and

· Small–scale or pilot adaptation initiatives targeting vulnerable communities.

On completion, the project is expected to increase local governments’ access to climate finance to implement climate change adaptation investments in Benin and Lesotho, through internationally recognized mechanisms.

The project will be implemented by the United Nations Capital Development through its Local Climate Adaptive Living Facility (LoCAL) programme.

The ACCF is an enabler fund which creates institutional capacity for recipient countries or institutions to access climate finance. This project aligns with the African Development Bank’s (AfDB) Strategy 2013-2022 and Climate Change Action Plan 2011-2015 and demonstrates how ACCF finance helps Regional Member Countries find financing through domestic sources or externally towards enabling their transition to climate-resilient, low-carbon development.

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