World Bank funds projects to promote climate smart agriculture in Kenya

KENYA – The Kenya Climate Smart Agriculture Project (KCSAP), a World Bank funded project has issued grants worth ksh.18.9million (US$177,500) in inputs and equipment to facilitate climate smart agricultural projects in Kakamega Country, West of Kenya. KCSAP aims to mitigating the effects of climate change by up scaling Climate Smart Agriculture (CSA) practices and supporting smallholder farming and pastoral communities in the country. According to the County Coordinator of Kenya Climate Smart Agriculture Project (KCSAP), Merina Adhiaya, the micro projects to be supported by the ksh.18.9m (US$177,500) fund are in four…

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IFC’s inaugural Green N-Bond raises US$24m for climate-smart investments

UNITED STATES—IFC, the largest global development institution focused exclusively on the private sector in developing countries and a member of the World Bank Group, has issued its inaugural euro-denominated green bond in the N-Bond format. IFC in a statement said that the green N-Bond was able to attract German institutional investor demand, raising 20 million Euros for climate-smart investments. IFC revealed that some of the climate-smart ventures that it intends to invest the funds in include renewable energy, green buildings, sustainable forestry, and energy efficiency. “We are pleased to see…

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Rwanda partners with IFAD in US$24.7m project to enhance climate resilience

RWANDA – The International Fund for Agriculture Development (IFAD) has partnerd with Rwanda in a new US$24.7 million project that aims to improve food and nutrition security, climate resilience and raise incomes by increasing production.   The projects dubbed “Kayonza Irrigation and Integrated Watershed Management Project” seeks to improve the livelihoods about 7,167 rural households in Rwanda. The financing agreement for the first phase (KIIWP1) was signed by Gilbert F. Houngbo, President of the International Fund for Agricultural Development (IFAD), and Gerardine Mukeshimana, Minister of Agriculture and Animal Resources of the…

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AfDB doubles its climate finance commitments to US$25bn within 2020-2025

AFRICA – The African Development Bank (AfDB) announced that it will double its climate finance commitments for the period 2020-2025 to at least US$25 billion. The announcement was made by Akinwumi A. Adesina, the Bank’s President during the One Planet Summit in Nairobi Kenya.   Speaking at a plenary in the presence of Heads of State, including President Uhuru Kenyatta of Kenya, and French President Emmanuel Macron, Adesina also announced the Bank is on course to achieve its target of allocating 40% of its funding to climate finance by 2020,…

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