The Climate Investment Funds (CIF) has allocated $143 million to promote nature-based solutions in Brazil, Kenya, and the Zambezi Basin, aiming to mobilize nearly $1 billion in co-financing. Key initiatives include forest restoration in Brazil, ecotourism and Indigenous community support in Kenya, and climate resilience efforts across the Zambezi region, benefiting millions. These investments are designed to further engage private sectors in sustainability efforts.
The Climate Investment Funds (CIF) board has approved an allocation of $143 million to support nature-based solutions across Brazil, Kenya, and the Zambezi River Basin in Africa. This funding is part of CIF’s Nature, People, and Climate program (NPC) and is expected to generate nearly $1 billion in co-financing, which will promote private-sector involvement in initiatives such as reforestation, biodiversity protection, and ecosystem restoration.
In Brazil, a significant restoration initiative costing $250 million, including $47 million from CIF, aims to revitalize 54,000 hectares of degraded land in the Amazon and Cerrado regions. The plan seeks to create 21,000 jobs in the environmental sector while combating illegal deforestation and improving agricultural resilience. Ivan Oliveira, Deputy Secretary of Foreign Affairs, remarked, “By shifting from the Arc of Deforestation to the Arc of Restoration, we are addressing one of Brazil’s main sources of emissions while promoting sustainable economic opportunities.”
Kenya’s initiative, supported by $35.66 million from CIF and $108 million in co-financing, focuses on conserving wildlife and assisting Indigenous communities around Lake Victoria South and Ewaso Ng’iro North. This plan aims to bolster ecotourism, enhance livelihoods for the Maasai and other Indigenous groups, and foster sustainable agricultural practices. Ecotourism alone contributes approximately 8.2% to Kenya’s GDP.
The Zambezi Basin initiative, with a $60.35 million investment plan, encompasses Malawi, Mozambique, Namibia, Tanzania, and Zambia, expecting to leverage over $10 in co-financing for every $1 invested. This program intends to engage the private sector in voluntary carbon markets, promote sustainable forestry, and provide alternative livelihoods for communities impacted by deforestation and climate change. Additionally, CIF’s Dedicated Grant Mechanism (DGM) will allocate $15 million directly to empower Indigenous and local communities.
Tariye Gbadegesin, CEO of Climate Investment Funds, noted, “This $143 million is expected to attract almost $1 billion in total, showing how the right funding at the right time can open up exciting new opportunities.” CIF’s $400 million NPC investment program aims to enhance climate resilience, land use, and economic development across low- and middle-income countries, with Brazil, Kenya, and the Zambezi Basin at the forefront of advancing sustainable solutions.
In summary, the CIF’s $143 million funding initiative represents a vital investment in environmental restoration and climate resilience across Brazil, Kenya, and the Zambezi region. These projects are expected to foster significant private-sector engagement, generate substantial co-financing, and support local communities in sustainable practices, ultimately contributing to a greener future and mitigating climate impacts.
Original Source: esgnews.com
