Kathmandu, Oct 24: The Adaptation Fund has approved three climate adaptation project proposals for Nepal, paving the way for initiatives aimed at strengthening vulnerable communities, promoting nature-based solutions and improving early warning systems for floods and landslides.
The proposals were approved at the Fund’s 47th Board Meeting which was also attended by Nepal’s representative on the Adaptation Fund Board, Naresh Sharma.
Sharma shared that the projects are expected to enhance the resilience of communities exposed to climate change, protect ecosystems through nature-based approaches and strengthen early warning systems to help communities better prepare for climate-related disasters.
Among the approved proposals is the Green Koshi project, to be implemented by the National Trust for Nature Conservation (NTNC).
The Board approved its concept note with a proposed budget of 9.92 million USD, informed Sharma.
The project will focus on strengthening climate resilience and conserving ecosystems through nature-based solutions, he said.
Similarly, the Board approved a pre-concept note for the SAFE NIB project, to be implemented by the International Centre for Integrated Mountain Development (ICIMOD).
With a proposed budget of US$300 million, the initiative aims to strengthen climate adaptation and flood and landslide early warning systems across the Hindu Kush Himalaya region.
Likewise, a concept note for a project to build resilient communities through locally led, nature-based climate action in Lumbini Province was approved with a proposed budget of approximately US$4.99 million.
The project will be implemented by the United Nations Human Settlements Programme (UN-Habitat), Sharma added.
According to him, the next board meeting of the Fund is slated to discuss proposal to mobilize international climate adaptation finance for post-disaster management, recovery and reconstruction in the Bhotekoshi river area, informed Sharma.
He also mention that although the board reportedly could not reach a decision on this initiative due to time constraint, the agenda was approved for further discussion on coming April.
The initiative is expected to help expand access to international climate finance for the recovery and reconstruction of communities affected by the August 26’s Bhotekoshi flood supporting their efforts to rebuild and recover.
The Adaptation Fund is an international climate finance mechanism established in 2001 under the Kyoto Protocol to the United Nations Framework Convention on Climate Change (UNFCCC).
It now also serves the Paris Agreement, providing grants to vulnerable developing countries to strengthen their capacity to adapt to climate change and build resilience to its impacts.
