CIF Invests $143M in Nature-Based Solutions Across Brazil, Kenya, and Zambezi Basin

CIF has allocated $143 million to support nature-based solutions in Brazil, Kenya, and the Zambezi Basin. This funding aims to mobilize nearly $1 billion in co-financing to enhance environmental sustainability, create jobs, and promote community-driven initiatives. Key objectives include large-scale forest restoration in Brazil, protection of wildlife and Indigenous communities in Kenya, and climate resilience for 51 million people in the Zambezi region. The total investment program seeks to integrate climate resilience with economic development in low- and middle-income countries.

The Climate Investment Funds (CIF) has approved $143 million for nature-based solutions in Brazil, Kenya, and Africa’s Zambezi River Basin. This funding is anticipated to generate approximately $1 billion in co-financing, encouraging private sector participation in projects focused on reforestation, biodiversity protection, and ecosystem restoration. The initiative is part of CIF’s Nature, People, and Climate program and aims to enhance environmental sustainability in these regions.

Brazil plans to invest $250 million, with $47 million from CIF, targeting large-scale forest restoration in the Amazon and Cerrado. Objectives include restoring 54,000 hectares of degraded land, creating 21,000 jobs in environmental restoration, and addressing illegal deforestation issues. Ivan Oliveira, Brazil’s Deputy Secretary of Foreign Affairs, stated, “By shifting from the Arc of Deforestation to the Arc of Restoration, we are addressing one of Brazil’s main sources of emissions while promoting sustainable economic opportunities.”

Kenya’s initiative, supported by $35.66 million from CIF and $108 million in co-financing, aims to protect wildlife and Indigenous communities around Lake Victoria South and Ewaso Ng’iro North. The plan focuses on enhancing ecotourism, benefiting the economy, and supporting Indigenous groups with nature-based solutions while promoting regenerative agriculture and conservation.

In the Zambezi Basin, a $60.35 million investment plan will cover Malawi, Mozambique, Namibia, Tanzania, and Zambia, generating over $10 in co-financing for every $1 spent. This initiative intends to engage the private sector in voluntary carbon markets, strengthen sustainable forestry, and provide alternative livelihoods for communities impacted by deforestation and climate change.

CIF’s Dedicated Grant Mechanism will allocate $15 million to Indigenous and local communities in these regions, empowering them to manage their sustainable development efforts. Tariye Gbadegesin, CEO of Climate Investment Funds, remarked, “This $143 million is expected to attract almost $1 billion in total, showing how the right funding at the right time can open up exciting new opportunities.”

CIF’s $400 million investment program focuses on merging climate resilience, land management, and economic development in low- and middle-income countries. With nearly $300 million already committed, Brazil, Kenya, and the Zambezi Basin are leading innovative nature-based solutions for a sustainable future.

In conclusion, the CIF’s $143 million investment marks a significant commitment to enhancing environmental sustainability across Brazil, Kenya, and the Zambezi River Basin. The funding is expected to not only support reforestation efforts but also leverage substantial co-financing from the private sector. Through targeted initiatives aimed at job creation, biodiversity protection, and community empowerment, these projects promise to foster resilience against climate change while promoting sustainable economic growth in these regions.

Original Source: esgnews.com