N$4 billion climate funding secured over a decade (Agri Monitor)

For the past 10 years Namibia secured about N$4 billion in climate related funding frommultilateral funding windows and bilateral cooperation. Petrus Muteyauli, deputy director for multilateral environmental agreements at the environment ministry said this at the Stakeholder’s Consultations Workshop on Namibia’s Green Climate Fund Developed Project Pipelines and Concept Notes for the NAM-RS-006 project. The NAM-RS-006 project titled “ Support for Accreditation of Direct Access Entities in Namibia”, is funded by the Green Climate Fund and implemented through the Environmental Investment Fund (EIF). He said that Namibia’s Vision and Harambee Prosperity Plan 2 highlight the importance of economic growth, environmental sustainability and social inclusion. “With an updated Nationally Determined Contribution (NDC), Namibia aims to reduce greenhouse gas emissions by 65% from the business-as-usual scenario, and further increase sink capacity by about 5 000 metric tons of carbon emissions.”Muteyauli said that to achieve this, Namibia needs to enhance access to finance, technology, and capacity-building.He said that most of the N$4 billion funding which was secured over the past decade came from the Green Climate Fund, Global Environment Facility, Special Climate Fund, and the Adaptation Fund. “The current projects that are under implementation are valued at about N$1.3 billion.”According to him, on 24 March 2023, the Green Climate Fund (GCF) approved Namibia’s Readiness Proposal to support accreditation of direct access entities in Namibia for increased climate finance access. These entities included the Development Bank of Namibia, Agribank, Bank Windhoek and the Namibia Nature Foundation as direct access entities, while the environment ministry was accredited as a delivery partner.Muteyauli said to speed up further access to climate finance, the entities seeking accreditation as direct access entities have each proposed a concrete and impactful program for funding from the Green Climate Fund. “Therefore, the main objective of our workshop is to review the concept notes for each of the programmes and give inputs to further enhance them before submission to the Green Climate Fund.”Muteyauli said that the workshop reviewed concept notes from the Namibia Nature Foundation (NNF) on the project, “Promoting Climate-Resilient Regenerative Agriculture in Namibia’s Communal Farming Areas” valued at US$10 millionThis project aims to transform cropping systems in northern Namibia through climate-smart, regenerative agriculture, improving food security, income, and reversing land degradation.The Agricultural Bank of Namibia proposed the “Climate-Smart Agriculture Transformation Facility” valued at US$250 million. This is a facility to support Namibia’s agricultural sector in adapting to climate change by promoting resilient production systems and integrated value chains.Bank Windhoek presented a concept for a “Clean Energy Facility” to decarbonize Namibia’s electricity supply by stimulating investments in renewable energy, low-carbon transport, and energy-efficient solutions.Finally the Development Bank of Namibia proposed a concept of “Enhancing Water Security in Municipalities” valued at US$250 million. This is a program to improve water security in municipalities facing climate-exacerbated water scarcity, including investments in efficient distribution and wastewater treatment.

N$4 billion climate funding secured over a decade (Agri Monitor)

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N$4 billion climate funding secured over a decade (Agri Monitor)

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