Multidonor Partnership OKs Climate Aid for 7 Countries

Seven impoverished countries will benefit from grants and near-zero-interest loans from the Climate Investment Funds that are designed to promote climate resilience and sustainable management of forests.

The financing includes $444 million to support efforts by Cambodia, Mozambique, Nepal, St. Lucia and Zambia to achieve national-level climate resilience, $30 million to bring about decentralized sustainable forest management in Burkina Faso, and $60 million to address deforestation and forest degradation in the Democratic Republic of Congo.

The funds are a joint initiative of the African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank and World Bank.

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About the author

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    Eliza Villarino

    Eliza Villarino currently manages one of today’s leading publications on humanitarian aid, global health and international development, the weekly GDB. At Devex, she has helped grow a global newsroom, with talented journalists from major development hubs such as Washington, D.C, London and Brussels. She regularly writes about innovations in global development.