• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Wednesday, June 4, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

AfDB, UNCDF exhibit non-market tools to mobilise finance for adaptation

AfDB

The Matters Press by The Matters Press
September 14, 2022
Reading Time: 2 mins read
0
Nigeria gets AfDB’s $14m as member of ATI

AfDB

The African Development Bank (AfDB) and the United Nations Capital Development Fund (UNCDF) have featured two innovative mechanisms for scaling up adaptation action and finance.

RELATED POSTS

FCT ground rent!: Check your name if you own property

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

IMPI urges media to consider national interest in reporting security challenges

The bank noted that the adaptation was reached during a joint event held on Sept. 1 on the sidelines of the Africa Climate Week in Libreville, Gabon.

It said Ludovica Amatucci, a programme analyst at UNCDF, made a presentation on the Local Climate Adaptive Living Facility (LoCAL mechanism).

According to Amatucci, the tool helps local governments and communities to tap into climate finance for locally-led adaptation, contributing to the implementation of the Nationally Defined Contributions under the Paris Agreement.

“Also, the tool helps local governments and communities on National Adaptation Plans and Sustainable Development Goal 13, which states to take urgent action to combat climate change and its impacts.”

Amatucci mentioned that “the LoCAL mechanism supports inter-governmental fiscal transfer systems target adaptation actions at the local level, while reinforcing transparency and reporting through those systems.”

AfDB’s Senior Climate Finance Officer,Kidanua Gizaw, said that the bank was piloting an Adaptation Benefits Mechanism (ABM) as a non-market, results-based finance tool to boost investments that enhanced the resilience of vulnerable communities and ecosystems.

While lnes Josten, Project Manager of the Green Cooling Initiative at the German Agency for International Cooperation (GIZ), explained that higher temperatures arising from climate change meant that traditional potato storage techniques in Kenya were no longer adequate.

It also meant potato crops could be preserved as long as before.

According to the statement, the first approved ABM methodology “Potato storage using green cooling technology”, developed by Perspectives Climate Group and funded by GIZ, presents a means to measure and quantify the benefits of modern, clean energy-based storage solutions in terms of saved wealth.

“This is due to decreased risk of rotting of potatoes.

“Applying this methodology to an ABM project would demonstrate better its added value and help to mobilise finance for clean technology to secure the livelihoods of smallholder farmers in Kenya and the region.”

Omar Saleh, Managing Director of Zephyr Consulting, representing SLAMDAM, a Dutch private sector organisation, presented the new ABM methodology,

“Flood damage reduction using a mobile flood barrier,” based on an ABM demonstration project in Lagos, Nigeria,” Saleh said.

According to the statement, the ABM methodology enables mobilisation of funds by linking adaptation benefits to investments in the mobile flood barrier.

Mr Kouassi Amani, a Project Lead of the “Cocoa Climate Resilience” made an ABM demonstration project implemented by the International Agroforestry Centre (ICRAF) in Cote d’Ivoire.

He illustrated how the project could use the ABM to incentivise private sector investment in cocoa agroforestry for climate change adaptation in West Africa.

The moderator, Gareth Phillips, AfDB Manager for Climate and Environment Finance, noted that the current adaptation finance levels were insufficient to meet the needs of developing countries.

Philllips, however, said the private sector and local governments could play a crucial role in filling the gap.

He said the AfDB and the UNCDF could also help to address the lack of credible adaptation metrics and indicators.

He said this could be done by developing and using methodological tools, create incentives to attract a broad range of actors to engage in adaptation, and unlocking new financial streams.

Africa Climate Week, forms part of a series of regional climate weeks being held globally.

Participants came together to outline Africa’s objectives for the upcoming COP27 in Egypt and unify and amplify the African voice to ensure action.

Tags: AfDB
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Senate probes $3.5b with NNPC
Economy/Technology

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

May 30, 2025
Next Post
FCCPC, Shippers’ Council sign agreement for fair competition

FCCPC tasks Nigerians on sustainable consumption

Council seeks incentives to boost indigenous ship operations

16 ships carrying assorted goods expected at Lagos ports -NPA

Recommended Stories

Stable petrol supply excites Buhari

IMPI backs deregulation of petroleum sector, insists Nigeria’s economy on right path.

October 16, 2024
Fraud in banking sector, mostly insider instigated

Lagos banks defy NLC on service withdrawal directive

September 5, 2023

Echoes of Nigeria’s rising debt

July 15, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,
  • IMPI urges media to consider national interest in reporting security challenges

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us