CIF has allocated $143 million to advance nature-based solutions in Brazil, Kenya, and the Zambezi River Basin, expected to unlock nearly $1 billion in co-financing. Brazil aims to restore 54,000 hectares of forest, Kenya targets wildlife and Indigenous communities, and the Zambezi Basin focuses on climate resilience for 51 million people. CIF’s approach emphasizes private investment, ecosystem restoration, and sustainable community development.
The Climate Investment Funds (CIF) have committed $143 million to implement nature-based solutions across Brazil, Kenya, and the Zambezi River Basin in Africa. This funding is a part of CIF’s Nature, People, and Climate program and is projected to mobilize nearly $1 billion in co-financing, fostering private-sector investment in ecosystem restoration and biodiversity protection.
In Brazil, the $250 million restoration plan, with $47 million from CIF, targets large-scale reforestation in the Amazon and Cerrado regions. The initiative aims to restore 54,000 hectares of degraded land, create 21,000 jobs in restoration sectors, and address illegal deforestation while providing sustainable economic opportunities.
Kenya’s NPC plan, supported by $35.66 million from CIF and $108 million in co-financing, focuses on protecting wildlife and Indigenous communities around Lake Victoria South and Ewaso Ng’iro North. This initiative seeks to enhance ecotourism, which contributes significantly to Kenya’s GDP, and support Indigenous groups through nature-based solutions, thereby promoting regenerative agriculture and conservation enterprise.
The Zambezi River Basin initiative plans to invest $60.35 million, aiming for a return of over $10 in co-financing for every $1 invested. This project will enhance sustainable forestry and wildlife conservation, provide alternative livelihoods for communities affected by climate change, and engage private sector actors in voluntary carbon markets, benefiting 51 million people across six countries.
CIF will also direct $15 million from its Dedicated Grant Mechanism to empower Indigenous and local communities in these regions, promoting sustainable development led by those directly impacted. Tarie Gbadegesin, CEO of CIF, noted that this funding can unlock new opportunities and incentivize environmental stewardship.
CIF’s Nature, People, and Climate investment program, with an overarching goal of $400 million, emphasizes the integration of climate resilience, sustainable land use, and economic development in low- and middle-income countries. With nearly $300 million already committed, this initiative is paving the way for future endeavors towards sustainability in Brazil, Kenya, and the Zambezi Basin.
The allocation of $143 million by CIF marks a significant step towards enhancing climate resilience and promoting sustainable development through reforestation and biodiversity efforts. Each region, Brazil, Kenya, and the Zambezi Basin, has specific initiatives directed at restoring ecosystems, supporting communities, and attracting private investment. This collaborative approach highlights the potential of nature-based solutions in addressing global climate challenges while fostering local economic growth.
Original Source: esgnews.com
