The CIF has earmarked $143 million to implement nature-based solutions in Brazil, Kenya, and the Zambezi region, expected to mobilize around $1 billion in co-financing. Brazil’s plan focuses on restoring 54,000 hectares of land, while Kenya emphasizes ecotourism and supporting Indigenous communities. The Zambezi Basin initiative aims to engage private sector players and bolster resilience for 51 million people.
The Climate Investment Funds (CIF) has allocated $143 million to support nature-based solutions in Brazil, Kenya, and the Zambezi River Basin. This funding, part of the CIF’s Nature, People, and Climate program, is projected to leverage approximately $1 billion in co-financing, thereby encouraging private sector engagement in reforestation and biodiversity initiatives.
In Brazil, the $250 million restoration plan aims to rehabilitate large tracts of degraded land in the Amazon and Cerrado regions. It includes objectives such as restoring 54,000 hectares, creating 21,000 jobs in restoration and environmental sectors, and addressing challenges like illegal deforestation. Notably, this plan marks CIF’s inaugural investment in the Amazon biome.
Kenya’s initiative, receiving $35.66 million from CIF and $108 million in co-financing, focuses on protecting wildlife, Indigenous communities, and essential ecosystems around Lake Victoria South and Ewaso Ng’iro North. It aims to enhance ecotourism, which accounts for 8.2% of the nation’s GDP, while promoting regenerative agriculture and supporting the Maasai and other Indigenous groups.
The Zambezi River Basin investment, totaling $60.35 million, encompasses Malawi, Mozambique, Namibia, Tanzania, and Zambia. This initiative is expected to attract over $10 in co-financing for every dollar invested, emphasizing private sector involvement in sustainable forestry, wildlife conservation, and providing alternative livelihoods to affected communities. Additionally, the Dedicated Grant Mechanism will allocate $15 million to empower Indigenous and local communities.
Furthermore, Tarie Gbadegesin, CEO of Climate Investment Funds, noted that this strategic funding is anticipated to unlock nearly $1 billion in total investments, emphasizing the potential of targeted funding to foster sustainable solutions for forest, waterway, and wildlife conservation. CIF’s broader $400 million investment program continues to champion climate resilience, land use, and economic growth within low and middle-income countries, with Brazil, Kenya, and the Zambezi Basin at the forefront.
In conclusion, the CIF’s $143 million investment represents a significant commitment to environmental restoration and climate resilience across Brazil, Kenya, and the Zambezi region. This funding is expected to stimulate substantial private sector investments and supports various initiatives from sustainable land management to community empowerment. The overall goal is to foster effective nature-based solutions that address pressing environmental issues while promoting economic development in these vital regions.
Original Source: esgnews.com
