Adaptation Fund Board Approves Over $50 Million for Seven Projects

Adaptation Fund29 June 2012: The Adaptation Fund Board approved a grant of $10 million to the Planning Institute of Jamaica to protect livelihoods and food security through the direct access financing pathway of the Adaptation Fund.

The Jamaica project is the third project to be approved by the Board through the direct access approach, following approval of projects in Senegal and Uruguay. The grant was approved along with six other projects at the 18th meeting of the Adaptation Fund Board, held from 26-29 June 2012, in Bonn, Germany.

Additional projects were approved in Colombia, Djibouti, Cambodia, Egypt, Lebanon and Mauritania. At the meeting the Board also accredited its 12th National Implementing Entity, the National Bank for Reconstruction and Development in India. In its discussions on meeting adaptation financing needs, the Board decided to offer Adaptation Fund certified emissions reductions (CERs), and considered its current fundraising strategy. At the start of the meeting, the Board held a dialogue with civil society, particularly for NGOs from countries with strong ties to the Adaptation Fund. [Adaptation Fund Press Release]