The Climate Investment Funds (CIF) has allocated $143 million to support nature-based solutions in Brazil, Kenya, and the Zambezi River Basin. This initiative aims to mobilize almost $1 billion in co-financing, targeting large-scale reforestation and ecological restoration while empowering local communities and enhancing climate resilience.
The Climate Investment Funds (CIF) has announced a significant allocation of $143 million aimed at promoting nature-based solutions in Brazil, Kenya, and the Zambezi River Basin in Africa. This funding initiative, part of the Nature, People, and Climate program, is anticipated to generate almost $1 billion in co-financing to stimulate private sector investments in reforestation, biodiversity preservation, and ecological restoration.
Brazil’s ambitious restoration plan, totaling $250 million with $47 million sourced from CIF, is dedicated to large-scale reforestation efforts within the Amazon and Cerrado regions. Objectives include restoring 54,000 hectares of degraded land, creating 21,000 jobs in environmental sectors, and addressing illegal deforestation practices.
Ivan Oliveira, Deputy Secretary of Foreign Affairs at Brazil’s Ministry of Finance, 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.” This plan also benefits from $100 million contributions from the Brazilian Development Bank and the World Bank, marking CIF’s inaugural investment in the Amazon biome.
In Kenya, the CIF funding of $35.66 million, complemented by $108 million in co-financing, focuses on preserving wildlife and supporting Indigenous communities in the Lake Victoria South and Ewaso Ng’iro North regions. The strategy seeks to enhance ecotourism and promote regenerative agriculture and conservation-friendly businesses.
The Zambezi Basin initiative, encompassing parts of Malawi, Mozambique, Namibia, Tanzania, and Zambia, involves a $60.35 million investment aimed at generating more than $10 in co-financing for each dollar invested. Key goals include engaging private sector participants in voluntary carbon markets and providing sustainable livelihoods for communities affected by deforestation and climate change.
Additionally, CIF’s Dedicated Grant Mechanism will allocate $15 million directly to Indigenous and local communities across Brazil, Kenya, and the Zambezi Basin, empowering them to drive their own sustainable development initiatives. Tarie Gbadegesin, CEO of Climate Investment Funds, stated, “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 Nature, People, and Climate investment program aims to integrate climate resilience, land use, and economic growth in developing nations. Thus far, nearly $300 million has been committed, with Brazil, Kenya, and the Zambezi Basin leading pioneering efforts in sustainable nature-based solutions.
In summary, the Climate Investment Funds have allocated $143 million towards initiatives focused on restoring ecosystems and improving climate resilience in Brazil, Kenya, and the Zambezi River Basin. These investments seek to mobilize significant co-financing, enhance local economies, and empower communities to adopt sustainable practices, marking a crucial step in the global commitment to environmental protection. With strong backing from both private and public sectors, these projects are poised to facilitate a lasting positive impact on both the environment and local livelihoods.
Original Source: esgnews.com
