The Board of Green Climate Fund (GCF) has gathered in Liberia to discuss a strategy to better support climate action here. The 24 – member GCF Board meeting was held recently at the Farmington Hotel outside Monrovia.
Speaking on behalf of the Government of Liberia, Finance and Development Planning Minister Samuel Tweah said Liberia is vulnerable to the negative effects of climate change.
With 560 kilometers of coastline and 70% of the population living in coastal cities, Tweah saya sea level rise and erosion both pose significant threats to the country.
He adds that Liberia is a green country and it needs lot of plans, noting that the Government of Liberia in the environmental sector goal is to scale climate activity to leverage their carbon potential.
He notes that the Environmental Protection Agency (EPA) is involved to use carbon development to leverage development, adding that protecting the planet is not a choice but a mandate for this generation.
Minister Tweah continues that all governments from both developed and developing countries must harness resources through the Green Climate Fund to promote low carbon economies and climate resilient countries.
Sue Szabo, a Canadian Co-chair, says a successful replenishment in 2019 means GCF must enhance its strategy to dramatically scale up its programming and reach more vulnerable people, communities and countries with flexible and innovative solutions.
Nauma Bashir Bhatti of Pakistan, who takes over as new GCF Board Co-chair this year, says as a country – driven organization, GCF must ensure it responds effectively to the needs and priorities of developing countries and align its stakeholder engagement, portfolio and financing accordingly.
“The review of the strategic plan will be taking this into consideration,” he says.
For his part, EPA Executive Director Nathaniel T. Blamo says in the wake of advancing GCF’s strategic plan, the meeting in Liberia offers an opportunity for the Fund to understand the depth of the threats posed by climate change on developing countries and the need to provide resources faster.
The total approved funds of US$5.6 billion for the GCF, nearly 40% or 2.2 billion has been directed to African countries to support about 50 projects.
The Executive Director of the Green Climate Fund Yannick Glemarec thanks the Liberian Government for hosting the board meeting here, saying the burgeoning demand for climate finance reflects the high ambitions shared by many developing countries to scale up climate action and the urgent need to do so.
“I’m confident this meeting will help refine the fund’s strategy to finance transformative initiatives with life-changing potential,” he adds.
The GCF is a fund created to support the efforts of developing countries to respond to the challenge of climate change. The fund is a platform that allows investment in low emission and climate resilient development, which will help countries.
The 24 – member GCF Board, consisting equally of developing and developed countries’ representatives, met here to progress the fund’s strategic vision, priorities and plan for the next four years, to support countries’ efforts to combat the climate crisis and achieve their Paris Agreement Goals.By Ethel A Tweh—Edited by Winston W. Parley