Green Climate Fund approves $1 billion in funding for resilient development
On March 1, 2018, the Green Climate Fund (GCF), a funding source under the United Nations Framework Convention on Climate Change (UNFCCC)* that helps finance climate-resilience and green growth in developing countries, announced that it would allocate USD 1 billion to 23 separate climate change initiatives in 22 countries. The countries, which include Rwanda, Mongolia, and Brazil, were allocated up to USD 200 million each to fund projects ranging from resilient agriculture to urban renewal and renewable energy. With the newly announced projects, the GCF has a portfolio of 76 programs, and has approved over USD 3.7 billion in resilience-centered climate change development. Rwanda was allotted USD 32.8 million to strengthen climate resilience in rural communities, with a specific focus on the Gicumbi District in the country’s Northern Province. The district is vulnerable to heavy rains which result in flooding and landslides, which have only been perpetuated and strengthened by climate change. Through the funding, Rwanda Green Fund (RGF) will facilitate projects that focus on watershed restoration and enhancement, sustainable forest resource management, and resilient agriculture in small communities. The RGF and the district itself will provide USD 147,000 and USD 107,000, respectively, in additional financing for the projects which will directly impact 150,000 people, and indirectly impact another 130,000.