Zambia gets $145,000 grant to fight climate change

Zambia has obtained a US$145,000 Readiness Package Grant from the Adaptation Fund to boost the country’s efforts in dealing with climate change.

This grant will also be used to facilitate the accreditation of Zambia Industrial Commercial Bank (ZICB) to the Adaptation Fund.

The grant will help strengthen the capacity to access climate adaptation finance, and the overall capacity to develop and initiate implementation of concrete projects and programmes that increase the resilience of vulnerable communities to the impacts of climate change.

The support will enable the Zambia Industrial Commercial Bank meet the Adaptation Fund accreditation requirements for a National Implementing Entity eligibility.

This is according to the Ministry of Green Economy and Environment Permanent Secretary, John Msimuko in a statement issued in Lusaka on Monday.

Msimuko said the support from the fund included updating manual of internal procedures and developing documents such as Code of Ethics, Transparency Policy, Environmental and Social Safeguards policy and Gender Policy, Project Cycle Management, and Monitoring and Evaluation guides, among others.

“The Adaptation Fund finances concrete adaptation projects and programmes in developing country Parties to the Kyoto Protocol that are particularly vulnerable to the adverse effects of climate change.

“The Adaptation Fund aims to help vulnerable communities in developing countries adapt to climate change. The Adaptation Fund’s support is based on country needs, views and priorities,” he said.

He noted that Zambia had never accessed climate financing from the Adaptation Fund saying the country had however initiated a process to do so which was currently underway.

“Further, the nomination of ZICB for accreditation as a National Implementing Entity will also increase these chances to access climate financing from the Adaptation Fund.

“When ZICB is successfully accredited, Zambia will be able to access Adaptation Fund grants through a Direct Access Entity. The Entity will be able to manage all aspects of the project, from formulation to execution by hand-holding the project developers,” Msimuko said.

The Adaptation Fund provides grants through its Readiness Programmes to enable National Implementing Entities to provide peer support to others in navigating the accreditation process while strengthening countries’ capacities to achieve Direct Access.