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Zambia to access US $1.5million for climate resilience pilot project

Zambia to access US $1.5million for climate resilience pilot project
By Florence Bupe
Sat 24 July 2010, 12:50 CAT

THE Ministry of Tourism, Environment and Natural Resources will in the next one year receive US $1.5 million for the implementation of the Pilot Programme for Climate Resilience (PPCR).

Tourism, environment and natural resources deputy minister Mubita Mwangala told Parliament on Friday that the funds would be on grant basis under the Strategic Climate Fund, a multi-donor trust fund within the World Bank’s climate investment funds.

“Grant agreements signed on 14th June, 2010 allows Zambia to access US $1.5 million for phase one. The disbursement will be done as soon as we put in place systems, including opening of a bank account and institutional implementation agreements,” he said.

The first phase of the climate change resilience programme is expected to run over a time frame of one year.

Mwangala further said Zambia would receive between US $40 million and US $50 million under the second phase of the programme, which will be utilised for infrastructure investments within the context of the Sixth National Development Plan (SNDP).

“In addition, there is what is termed as highly concessional loans where US $300 million is available for all pilot countries. Each country qualifies for 20 per cent and within this amount, 75 per cent is a grant,” Mwangala said. “No decision has been made regarding whether Zambia should apply for this loan.”

Mwangala stressed that climate change was a serious developmental challenge, which was likely to adversely affect both developed and developing nations.

“It is, therefore, important for any country to develop climate change flexibility. Developing nations are less able to protect themselves and therefore, more vulnerable to adverse developmental effects than developed nations because of their weak financial standing,” said Mwangala.

Labels: CLIMATE CHANGE, MUBITA MWANGALA

posted by MrK @ 4:53 AM