Overview
The Green Climate Fund has agreed to provide $151 million in funding towards a broad-building resilience program being led by the African Development Bank for addressing growing climate vulnerability within the Horn of Africa. To be known as “Building Climate Resilience for Food and Livelihoods in the Horn of Africa,” this program is intended for 4.6 million individuals spread across the five countries of Djibouti, Somalia, Kenya, Ethiopia, and South Sudan.
Funding Breakdown
The full package consists of a $90.7 million grant and a loan of $60.3 million, which was approved during the 39th Board meeting of the Green Climate Fund. Part of its big move, AfDB seeks to build climate resilience in one of the most vulnerable regions on the planet. Implementation of the programme would commence in the first quarter of 2025, with the entire project scheduled to take six years in all.
Climate Challenges In Focus
The Horn of Africa is among the most vulnerable regions to the impacts of climate change, characterized by unpredictable weather conditions, increased temperatures, and frequent instances of drought and flood. Such a condition has been shockingly aggravating socio-economic issues in the region, particularly among the agro-pastoral communities whose dependency relies on rain-fed crop and animal husbandry. The design of this program is to attempt to resolve these challenges through priorities like sustainable land management, access to climate-smart technologies, and renewable energy solutions.
Programme Objectives
The programme “Building Climate Resilience for Food and Livelihoods in the Horn of Africa” is targeted to enhance food security and reduce poverty within the region. The intervention shall be implemented in tandem with the African Development Bank Feed Africa Strategy, as well as the Country Food and Agriculture Delivery Compacts presented at the Dakar 2 Feed Africa Summit. In this context, the programme aims to contribute to economic growth in a sustainable manner, addressing root causes of food insecurity and poverty in five participating countries.
Gender-Balanced and Community-Driven Solutions
This is essentially inculcated into the program’s emphasis on gender-balanced and community-driven solutions. It will finance a host of activities that constitute grassroots resilience, including capacity building for cooperatives, agribusinesses, and small and medium-sized enterprises. Access to credit, climate services, early warning systems, and index insurance will further support communities in managing climate risks.
Environmental Impact
The Programme will also be expected to make a very important contribution to the reduction of carbon emissions within the region. The investment from the Green Climate Fund is forecast to sequester approximately 14.1 million tonnes CO2 over the 25-year life of the project. This is equivalent to the lifetime emissions of approximately 600,000 cars, a determination of the programme’s potential to help mitigate the effects of global warming.
Monitoring and Implementation
The African Development Bank would finance the programme as well as follow up on its implementation. It is envisioned that the five countries will implement the project within the next six years, although local communities are expected to reap from it for the next 25 years. Success shall be realized when national governments, together with local communities and international partners, work as one in their quest to build a resilient and sustainable future for the Horn of Africa.
Conclusion
The Green Climate Fund funding of $151 million was a milestone for the Horn of Africa in fighting climate change. Through building resilience and improving livelihoods, the Bank’s program addresses some of the most immediate challenges faced by communities across the region. The potential this program has for food security improvement, poverty reduction, and even mitigating climate change; therefore, it is important towards ensuring a more sustainable and prosperous future for the Horn of Africa.
Source: The African Development Bank