The World Bank’s Board of Executive Directors today approved a US$31 million grant and a US$5 million loan from the Pilot Program for Climate Resilience (PPCR) of the Strategic Climate Fund to support the Government of Zambia’s efforts to strengthen its institutional framework for climate resilience, and boost the adaptive capacity of vulnerable communities in one of the poorest areas of Zambia – the Barotse sub-basin of the Zambezi.
“Zambia’s climate is highly variable. Floods and droughts have increased in frequency over the past three decades, costing the nation an estimated 0.4% in annual economic growth,” said the World Bank’s Country Director for Zambia Kundhavi Kadiresan. “This project will help make climate change adaptation and resilience an intrinsic part of economic development, while adopting a participatory, learning-by-doing approach to one of Zambia’s most vulnerable areas”
The Strengthening Climate Resilience (PPCR Phase II) project will provide overall support to Zambia’s growing national climate change program, strengthen climate information, and fund participatory adaptation in the Barotse sub-basin.
“The poor in Zambia are particularly vulnerable to climate change impacts due to their heavy reliance on climate-sensitive sectors such as rainfed agriculture, fishing, and forestry,” said Jamal Saghir, the World Bank’s Director of Sustainable Development for the Africa Region.”This project will help to improve the adaptive capacity of vulnerable communities, provide job opportunities for rural families, and help mainstream climate resilience into vulnerable economic sectors.”
The post World Bank to Fund Climate Initiate in Zambia appeared first on Zambia Reports.