Antalya:The Climate Investment Funds (CIF) has announced the first five countries and a regional initiative chosen for its ARISE program, focusing on financing climate adaptation and resilience projects in nations vulnerable to climate change. This announcement was made during an event in the Blue Zone at the COP31 UN climate summit in Antalya, Turkey, where discussions centered on enhancing climate resilience and mobilizing investments.
According to Anadolu Agency – English, CIF Chief Executive Officer Tariye Gbadegesin emphasized the growing impact of climate change on lives and economies worldwide, highlighting the necessity for increased investment in adaptation strategies. She noted that 40% of the program's funding is designated for the private sector, with investments carried out in collaboration with six multilateral development banks.
The ARISE program has seen significant interest, with 70 countries applying. Gbadegesin revealed that the top 25 applications alone represent a project portfolio worth $700 million, indicating a strong demand for urgent investments. Contributions from Germany, Ireland, and Spain will fund the program's first phase, supporting Bangladesh, Haiti, Kyrgyzstan, Morocco, and Sierra Leone, along with a regional initiative involving Mozambique and Malawi.
Each selected country is expected to receive $30 million, while the regional initiative will benefit from $40 million in funding. In Bangladesh, the focus will be on enhancing coastal infrastructure and climate-friendly agriculture. Projects in Haiti will aim at coastal protection and mangrove restoration. Kyrgyzstan will receive support for improving climate resilience in its water and agricultural sectors.
In Morocco, the funding will be directed towards water security, renewable energy-powered desalination systems, and wastewater reuse. Sierra Leone's projects will concentrate on coastal protection and mangrove ecosystem restoration. The regional initiative for Mozambique and Malawi is designed to protect economically critical areas from climate-related disasters like floods, droughts, and cyclones, while also attracting private sector investment.