
Hassan Istiila
Wednesday October 23, 2024

Mogadishu (HOL) – The Green Climate Fund (GCF) has approved $100 million for Somalia's first major climate finance project, "Climate Resilient Agriculture in Somalia" (FP246), during its 40th board meeting on Tuesday.
Somali Minister of Environment and Climate Change Khadija Mohamed Al-Makhzoumi, along with other government officials, participated in the GCF board session. Minister Khadija welcomed the decision, describing it as a significant step toward enhancing the climate resilience of Somalia's agricultural sector.
She commended the swift approval, calling it one of the fastest projects endorsed by the GCF. This marks Somalia's largest single-country climate finance initiative to date.
"History was made today with the approval of our first single-country project—one of the fastest ever approved by the GCF Board," Minister Khadija noted, praising GCF Executive Director Mafalda Duarte for fast-tracking the initiative. The Minister stressed the importance of accessing vertical and horizontal climate finance to translate climate commitments into tangible, on-the-ground impacts.
The $100 million investment will fund climate-resilient agriculture programs, a critical sector for Somalia, which is highly vulnerable to the effects of climate change. Somalia is ranked the second most climate-vulnerable country globally despite contributing just 0.03% of global greenhouse gas emissions. The country has faced devastating climate-induced challenges, including severe droughts that caused over 43,000 excess deaths in 2022 and displaced more than six million people.
Earlier in March 2024, GCF Executive Director Mafalda Duarte led the first-ever GCF delegation to Somalia and announced the $100 million investment partnership to accelerate climate action and USD 7 million to further capacitate the Ministry of Environment and Climate Change over the next year.
FP246, also known as Climate Resilient Agriculture in Somalia (Ugbaad), is a project that aims to help Somalia's rural communities and ecosystems become more resilient to climate change.
The Green Climate Fund, the world's largest climate-focused financial institution, currently manages a portfolio of over 250 projects worth $13.9 billion, delivering climate solutions in more than 129 developing countries.