The Green Climate Fund has given the African Development Bank’s Climate Resilience Program, about $151 Million.
The funding comprises a grant of about $90.7 million and a loan amount of about a $60.3 million.
The African Development Bank said in a statement on Tuesday, up to 4.6 million people across Djibouti, Somalia, Kenya, Ethiopia and South Sudan will benefit from the funds.
The financing will support community-driven and gender-balanced resilience solutions.
These include sustainable land management practices, access to climate-smart technologies and best practices, renewable energy, capacity-building for cooperatives, #agribusiness and micro, small and medium enterprises, credit and climate services, early warning, and index insurance.
Dr. Martin Fregene, the Bank’s Director for Agriculture and Agro-Industry, said “these resources will further help consolidate the FeedAfrica Strategy and complement the Country Food and Agriculture Delivery Compacts presented at the Dakar 2 Feed Africa: Food Sovereignty and Resilience Summit.”
He also said the funds will support the reduction of poverty and food insecurity, while contributing to accelerated sustainable economic growth in the region.