Tariye Gbadegesin, Chair of the CIF Executive Board, delivered a speech at an event held in the Blue Zone at COP31. (AA photo)
The Climate Investment Funds (CIF) named five countries and a regional initiative as the first participants in its ARISE climate adaptation program at COP31 in Antalya on Nov. 12.
Bangladesh, Haiti, Kyrgyzstan, Morocco and Sierra Leone will prepare investment plans seeking up to $30 million each.
A joint initiative for Mozambique and Malawi can seek up to $40 million.
The first phase is backed by contributions from Germany, Ireland and Spain.
CIF Chief Executive Officer Tariye Gbadegesin said 40 percent of the program’s funding would be allocated to the private sector, with investments implemented in partnership with six multilateral development banks.
“Seventy countries applied. Even the top 25 applications alone represent a portfolio of projects worth $700 million that are ready for urgent investment,” she said.
Planned investments in Bangladesh will focus on coastal infrastructure and agriculture, while projects in Haiti and Sierra Leone will prioritize coastal protection and mangrove restoration.
Kyrgyzstan’s plans will address climate risks in water management and agriculture.
Morocco will focus on water security, desalination powered by renewable energy and wastewater reuse.
The Mozambique-Malawi initiative aims to protect economically important areas from floods, droughts and cyclones while attracting private investment.
