Mozambique mobilizes only 24% of required climate finance

Mozambique has mobilized only 24% of the $7.6 billion required to fund its Nationally Determined Contribution (NDC) for the 2021–2025 period, according to Planning and Development Minister Salim Valá. Speaking at the second National Climate Finance Conference, Valá noted that while progress has been made, the scale of resources remains insufficient to meet the country's needs.

One notable success includes the mobilization of approximately $42.45 million from the Green Climate Fund for a renewable energy project in rural areas. This initiative is supported by Belgium through Enabel and includes capacity-building for the National Energy Fund. The Belgian government has reaffirmed its commitment to helping Mozambique transform climate priorities into bankable investment projects.

The urgency for funding is underscored by the impact of January 2026 floods, which affected roughly 724,000 people and damaged 170,000 homes. The estimated cost for reconstruction and recovery from that single event is approximately $1.6 billion (102 billion meticais), a figure that contributed to a downward revision of Mozambique's economic growth forecast from 2.8% to 0.59%.