The Head of Green Climate Change Fund Readiness Programme at the Ministry of Finance (MoF), Adwoa Fraikue, has disclosed that government is to receive US$310 million from the Green Climate Fund (GCF) by the end of 2018.
She said this at a stakeholder engagement on the status of the programme organized for the media and Private sector at the La Palm Beach hotel, Accra.
Agencies to benefit from the US$310 million facility are, the Energy Commission, Environmental Protection Agency and the Forestry Commission. They submitted project proposals and concept notes on three separate projects, which are, Accelerating Solar Action Programme, Resilient Landscape for sustainable Livelihoods, and the Ghana Shea Landscape project.
Emphasizing on the need for Ghana to access funding to fight global warming, Adwoa Fraikue, said although Ghana and many other developing countries are the least emitters of greenhouse gases, developing countries unfortunately were at receiving end of climate change.
She said government on its part was using the country’s limited resources to implement several policies aimed at consolidating a more resilient climate economy while embarking on a sustainable development agenda.
She, however, noted that the huge cost associated with responding to negative practices associated with climate change was beyond the financial means of any single government in any emerging economy.
An Economic Officer, Robert Mensah, said government had qualified for the GCF funding, due to the hard work done on the readiness programme. He said an operational manual had been developed for MoF, which he described as the National Designated Authority (NDA) responsible for accessing the GCF financing for related projects.
He also disclosed that two potential direct Access Entities (DAEs), Ecobank and Social Investment Fund have been identified and supported to submit GCF accreditation applications.
In attendance were representatives from MDAs, CSOs, media and UNDP.