The Green Climate Fund (GCF) and the Namibian government have agreed on the need to scale up financing for youth-led projects that build climate resilience.

President Netumbo Nandi-Ndaitwah discussed the issue with GCF's Board Co-Chair Seyni Nafo at State House as Namibia advances its bid to host the Fund's African Regional Hub.

The GCF plans to expand its regional presence to improve stakeholder engagement and facilitate easier access to funding. 

Namibia argues that hosting the African hub would further strengthen progress in climate and environmental management.

While the bids have not yet been made public, ten other African nations have also expressed interest, and the GCF Board is expected to meet in two weeks to adopt the process for evaluating all proposals.

In 2012, Namibia submitted a bid to host the GCF Secretariat.

"Particularly guided by our Constitution, you know environmental protection is part of the Namibian Constitution, and we really took this Rio Convention very seriously, and that is why even at one point when the call was made for countries to host the Green Climate Fund, we put in a bid, but we did extremely well because we became a runner-up to Korea," said President Nandi-Ndaitwah.

Following recent reforms, the GCF has lifted its funding cap for accredited entities such as Namibia's Environmental Investment Fund (EIF). 

Ambassador Nafo praised Namibia's impactful initiatives and the EIF's role in advancing climate action.

"Namibia is doing very well with the Fund. I think the EIF already has four projects, but frankly, they are very small projects, I think N$10 million each, and I think it is good as a portfolio, but I think we owe it to ourselves to be a bit more strategic; we can and we should. But I want to tell you we are coming back in December with a full delegation to have a comprehensive discussion with the government and beyond."

The EIF, accredited since 2015, has accessed US$42 million for climate-resilient projects to date, according to its CEO, Benedict Libanda.