CAF to implement two new Adaptation Fund projects
The Climate Adaptation Fund approved two new projects to be managed by CAF-development bank of Latin America, worth USD 16 million.
The Climate Adaptation Fund approved two new projects on climate change adaptation to be implemented by CAF-development bank of Latin America.
The first one, amounting to USD 2.4 million will contribute to strengthening the adaptation capability of local populations in the upper basin of the Clanco River in the area of the Toachi-Pilatón, in Ecuador, with integrated adaptation approaches based on the ecosystem and the community.
The second one, amounting to USD 13.9 million for Chile – Ecuador, aims to reduce vulnerability to floods, mudflows and landslides related to climate change, incorporating approaches based on adaptation of ecosystems, infrastructure, information systems, risk management, cooperation and a culture of adaptation in urban and semi-urban areas in three coastal towns (Antofagasta, Taltal and Esmeraldas).
The Adaptation Fund board also approved projects in West Africa and Asia while endorsing other three project concepts with approved project formulation grants for their further development.
The Adaptation Fund was established to finance specific projects and programs in developing countries that are parties to the Kyoto Protocol and vulnerable to the adverse effects of climate change.
With these approvals, CAF continues leveraging new resources in terms of adaptation to support the region in new projects that address the needs and challenges in the adaptation to climate change.
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