Liberia is to receive US$ 9,592,082 to build climate resilience in the cocoa and rice sectors. According to the Environmental Protection Agency, the money was approved Wednesday, 30 September by the Adaptation Fund Board, an international fund that finances projects and programs aimed at helping developing countries to adapt to harmful effects of climate change.
It is setup under the Kyoto Protocol of the United Nations Framework Convention on Climate Change (UNFCCC).
The “Building Climate Resilience in Liberia’s Cocoa and Rice Sectors” Project, which was advanced by the Environmental Protection Agency of Liberia and approved by the Adaptation Fund aims to address key climate vulnerabilities in agriculture and water resources management in the rice and cocoa value chain and well as contribute to immediate and longer-term development and resilience needs of poor vulnerable smallholder farmers in the country.
A press release from EPA says the project was done in three components, including climate-proofed agricultural production and post-harvest combined with livelihood diversification, climate resilient rural transportation and water infrastructure and institutional capacity building and policy engagement.
The board has also requested the secretariat to draft an agreement with IFAD as the multilateral implementing entity for the project.
EPA Acting Executive Director, Randall M. Dobayou has lauded the Adaptation Fund Board for approval of the project, which he says would bring some relief in the agricultural sector amidst the negative impacts of climate change. Press Release