Africa has received a climate finance boost after the Green Climate Fund (GCF) approved US$440 million (N$7.44 billion) in new funding, representing 46% of its latest allocations.
This brings Africa’s total share of the Fund’s global portfolio to about US$7.6 billion (N$128.43 billion).
Namibia is set to intensify its lobbying efforts for the bid to host the Green Climate Fund (GCF)'s African Regional Hub during the upcoming UN Climate Change Conference.
The conference, also known as COP30, will take place from 6 to 21 November in Belém, Brazil.
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 Hage Geingob says it is regrettable that only US$23 billion has been committed to the Green Climate Fund thus far, as developing countries continue to battle the effects of climate change.
