… Says West Africa Will Benefit Hugely From The GCF
Economic Community of West Africa States (ECOWAS), has organized a 3-day training workshop to educate member states on how to access the global Green Climate Fund (GCF). The fund, officials said will benefit Least Developed Countries (LDCs), of which 12 West African countries fell into.
According to the Head, Division Environment, Policies and Regulations, Bougonou Djeri-Alassani, the Green Climate Fund prioritizes Adaptative and Mitigation measures. Djeri-Alassani said that Adaptation takes 50 percent of the global finance, while Mitigation is 50 percent.
“Among the 50 percent for adaptation, we have 50 coming to Africa, and among the 50 percent coming to Africa, we have 50 percent going to Least Developed Countries (LDCs). And in ECOWAS, we have 15 member states and at least 12 LDCs. This is the opportunity we have there. Nigeria is not a LDC. But the fund is open to everyone.”
Regional Advisor for Africa on Green Climate Fund, Alpha Kaloga, reiterated the potential opportunities available, says the fund is the first of its kind that ECOWAS countries have direct access to. “Instead of going through UNDP, World Bank or other International institutions, developing countries have the opportunity to offer for the first time their own institution to be accredited, get the money and implement. That is very important if you want to ensure country ownership.”
However, Djeri-Alassani clarified that the fund is not restricted to ECOWAS region but to the globe. He further, clarified that disbursement of the fund rests on a country’s discretion to select or identify suitable institutions that it feels fits their need.
“It is the biggest fund, on climate field. We don’t aim to finance small isolated projects rather take a problematic approach, to fund large scale projects that are transformational and will impact on the economic trajectory of countries.”
He affirmed that the GCF as an operating entity of a conference of parties to the United Framework Convention on Climate Change (UNFCC), will provide regular guidance on the effective use of funds to help countries meet the objectives set by the global communities on climate change.