Climate Change Adaptation Strategies:
$22 and 19.65 m demanded for LDCF and SCCF Respectively
The demanded amount of LDCF and SCCF has been raised this year as it reaches $22 million and 19.650 million respectively. The proposed work program is complementary to the GEF Work Program submitted to the GEF Council for approval in May 2011.The work program presented by the Secretariat for Least Developed Countries Fund (LDCF) / Special Climate Change Fund (SCCF) Council review and approval is a joint work program presenting two stand-alone SCCF-A projects as well as 2 multi-trust fund initiatives that draw resources from the GEFTF, SCCF and LDCF.
According to officials, the total SCCF-A resources requested through this work program amount to $19.650 million, which includes $17.948 million in project grants and $1.702 million in Agency fees. Total co-financing amounts to $82 million. Each dollar of SCCF grant is matched by $4.57 in co-financing.
The total LDCF resources requested through this work program amount to $22 million which includes $20.37 million in project grants and $1.63 million in Agency fees. Each dollar of LDCF grant is matched by $12.8 in co-financing.
Currently the number of approved projects in the SCCF Adaptation Program is 27 (6 MSPs and 21 FSPs) totalling $108.655 million while 45 projects (4 MSPs and 41 FSPs) totalling $159.872 million have been approved under the LDCF. Additional projects are under review for potential inclusion in the next SCCF work program. The demand for SCCF adaptation resources remains high and significantly exceeds current supply in the SCCF. A significant increase in donor contributions is therefore urgently needed.
Officials told this work program addresses all three LDCF/SCCF adaptation objectives set forth in the GEF-5 Programming Document. These objectives are the subject of monitoring and reporting in accordance with the results-based management (RBM) policy as projects progress through their implementation phases. These objectives are to reduce vulnerability to the adverse impacts of climate change, including variability, at local, national, regional and global level; and increase adaptive capacity to respond to the impacts of climate change, including variability, at local, national, regional and global level; and promote transfer and adoption of adaptation technology.