By REBECCA MUSHOTA – in Songdou
THE Green Climate Fund (GCF) meeting has started in South Korea with Zambia’s proposal to access more than US$80 million listed as one of the matters to be tabled at the gathering set to close on Thursday.
Zambia has proposed to access $32 million for a project aimed at strengthening climate resilient agriculture and $50 million to catalyse private investment in the renewable energy sector.
The $82 million proposal, if successful, will result in Zambia receiving half of the funding allocated to African countries.
Ministry of National Development Planning Permanent Secretary Chola Chabala said the proposals would enable the country fulfil projects outlined in the Seventh National Development Planning (SNDP) without stressing the national Budget.
Mr Chabala said once approved, the $32 million funding for agriculture would trigger additional funding from the United Nations Development Programme (UNDP), bringing the total funding to $137.269 million.
The project will enable smallholder farmers plan for water resources, develop resilience to changing rainfall patterns by diversifying crop production and increase their access to markets.
Mr Chabala said the GCF programme was in line with the Government’s plans of finding alternative means of financing the projects outlined in the SNDP.
“This will add to the funding sourced for various projects in the SNDP which currently shows that over 90 per cent of the projects have had their sources of funding in place,” Mr Chabala said.
Ministry of Energy Permanent Secretary Emelda Chola said if the energy funding was approved, it would trigger additional funding from the African Development Bank (AfDB) of $55 million.
Brigadier-General Chola said the proposal was meant to support the financing of renewable energy projects earmarked for the private sector.
She said that through the project, Independent Power Producers under the existing GetFIT project would create solar power stations and small hydropower stations.
Gen Chola said this was in line with the Government’s plans to increase private sector participation in order to improve industry efficiency and create more jobs.
The GCF was established in 2010 to help developing countries deal with the effects of climate change.
The GCF programme in Zambia is managed by the National Designated Authority which is headed by Mainga Luwabelwa and it is placed in the Ministry of National Development Planning.