The United Nations-backed Green Climate Fund (GCF) is believed to be the world’s largest multilateral climate fund for its planned commitment of 100 million U.S. dollars to a climate action investment programme in Somalia over the next year.
The funds were announced on Tuesday in Mogadishu, the capital of Somalia, during a visit by the GCF executive director, Mafalda Duarte who led the first-ever GCF delegation to Somalia.
According to a statement issued in the Somali capital on Tuesday evening, ‘‘Duarte will help bolster the country’s climate resilience efforts.
Duarte said Somalia is the second most vulnerable country to climate change in the world, despite contributing only 0.03 per cent of total global greenhouse gas emissions, the statement said.
“The interlinked impact of climate change and lack of security had a devastating effect on people, causing some 43,000 excess deaths in 2022 due to drought
‘‘It displaced more than 6 million people, pushing Somalis away from their homes into overcrowded towns and cities,” Duarte was quoted as saying in the statement.
Recurrent drought and regular flooding led to failed crops, loss of livestock, and chronic food insecurity problems in Somalia, she said.
“GCF is committed to working with the government of Somalia and its partners to address better the extreme vulnerability the country and its population face,” Duarte said.
He said the GCF is ready to commit to a strategy of investments and readiness support of over 100 million dollars to Somalia by mid-2025.
Likewise, a long-term commitment to empower Somalia to develop country-priority projects and subsequent investments.
While in Somalia, Duarte met with President Hassan Sheikh Mohamud and other senior government officials.
He launched an investment pipeline including a project that will provide affordable, reliable off-grid energy access to unelectrified populations in sub-Saharan Africa.
The program prioritizes capital investment and technical support in Somalia, accelerating disbursements of over 3 million dollars for 2024-2025, with funding from the GCF and other funders, the statement said.