The CIF has allocated $143 million to support nature-based solutions in Brazil, Kenya, and the Zambezi Basin, potentially unlocking $1 billion in co-financing. The initiatives aim to restore forests, enhance ecotourism, and support Indigenous communities while addressing climate change. Each region has tailored investment plans to drive economic and environmental benefits.
The Climate Investment Funds (CIF) has authorized a substantial investment of $143 million to enhance nature-based solutions in Brazil, Kenya, and the Zambezi River Basin in Africa. This funding is anticipated to generate nearly $1 billion in co-financing, promoting private-sector involvement in critical areas such as reforestation, biodiversity conservation, and ecosystem restoration.
In Brazil, a robust $250 million restoration initiative includes $47 million from the CIF, targeting the Amazon and Cerrado regions. The plan outlines a commitment to restore 54,000 hectares of degraded land in the Tocantins-Araguaia Basin and aims to create 21,000 jobs within the environmental and restoration sectors, while combatting illegal deforestation.
Kenya’s plan, bolstered by $35.66 million from the CIF and $108 million from co-financing, is designed to protect wildlife and Indigenous communities. This strategy is set to enhance ecotourism, which is vital to Kenya’s economy, while supporting local Indigenous communities through sustainable practices and regenerative agriculture.
The Zambezi Basin initiative, which encompasses Malawi, Mozambique, Namibia, Tanzania, and Zambia, is backed by a $60.35 million investment plan. It aims to attract over $10 in co-financing for every $1 invested, promoting sustainable forestry, wildlife conservation, and alternative livelihoods for communities affected by climate change and deforestation.
CIF’s Dedicated Grant Mechanism will allocate $15 million directly to Indigenous and local communities across these regions, empowering them to lead sustainable development initiatives. The CEO of Climate Investment Funds, Tariye Gbadegesin, indicated that this funding will catalyze significant investments and opportunities in sustainable practices.
CIF’s $400 million Nature, People, and Climate investment program emphasizes the integration of climate resilience, land use, and economic development in low- and middle-income countries. With nearly $300 million committed, Brazil, Kenya, and the Zambezi Basin are spearheading efforts to implement nature-based solutions and demonstrate their impact on sustainability.
In summary, the CIF’s $143 million investment marks a significant step towards fostering environmental sustainability through reforestation and climate resilience initiatives in Brazil, Kenya, and the Zambezi River Basin. By mobilizing nearly $1 billion in co-financing and directly supporting local communities, the initiative not only addresses critical ecological challenges but also promotes economic development and job creation in these regions.
Original Source: esgnews.com
