Italy contributes more than €4m to AfDB climate change fund

14 Dec 15

Italy is to contribute €4.7m to the African Development Bank’s Africa Climate Change Fund.

Italian environment minister Gian Luca Galletti said last week: “Italy is committed to supporting developing countries in the fight against climate change. This partnership with the AfDB will assist African countries, which are amongst the most vulnerable, in pursuing sustainable and inclusive growth”.

Total contributions to the Africa Climate Change Fund now stand at over €9.4m, which the AfDB said was a vote of confidence in the fund’s work.

The Africa Climate Change Fund is a young fund that has ambitions to become a multi-donor fund. It support projects aimed at boosting the resilience of communities throughout Africa to climate change.

Italy’s contribution will finance the ACCF’s sixth project with a €360,000 grant for climate change resilience in Zanzibar.

Projects in Kenya, Mali, Swaziland and Cape Verde have already been approved as well as one regional project.

Kurt Lonsway, head of the AfDB’s environment and climate change division, said, “Early experience from the ACCF has shown the high demand for climate finance readiness support from African governments and other stakeholders.

“The ACCF is approving new projects every other month, however the demand greatly exceeds the funding available. Italy’s contribution enables us to scale-up this much needed support and we hope it will open the door to other funders to join the ACCF.”

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