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2 clusters · 4 sources · 9 days · First seen · Last updated

Climate adaptation finance initiatives in East Africa

Overview

The International Fund for Agricultural Development (IFAD) and Equity Group launched the Africa Rural Climate Adaptation Finance Mechanism (ARCAFIM), a US$ 200 million private sector-led initiative. The 12-year program provides US$ 180 million in lending capital and US$ 20 million in technical assistance to support smallholder farmers and rural businesses in East Africa, specifically targeting Kenya, Uganda, Tanzania, and Rwanda.

As African nations advocate for structural changes to the global financial system and improved support for climate adaptation and debt relief during the 81st session of the United Nations General Assembly, ARCAFIM aims to address financing shortfalls. The mechanism is expected to benefit approximately 1.5 million people, with a focus on women and youth to strengthen regional food security.

Entities

International Fund for Agricultural Development · Equity Group · World Savings and Retail Banking Institute · LAPO Microfinance Bank · Green Climate Fund

Timeline

  1. 10 days ago

    [INTERNATIONAL] 2 sources
    African nations seek enhanced climate finance and adaptation support

    African nations are seeking improved climate finance at the UN, supported by the launch of a $200 million mechanism to provide adaptation funding to smallholder farmers in East Africa.

  2. 18 days ago

    [BUSINESS] 2 sources
    IFAD and Equity Group launch US$ 200mln climate finance mechanism for East Africa

    IFAD and Equity Group launched a US$ 200 million mechanism to fund climate adaptation for East African farmers, while experts call for more inclusive finance for rural communities.

Sources

businessday.ng · financialfortunemedia.com · observer.ug · thecooperator.news