LUSAKA, Feb. 28 (Xinhua) -- The Green Climate Fund (GCF) has approved 84.5 million U.S. dollars to support two projects in Zambia in the energy and agriculture sectors, state media reported on Wednesday.
Of the approved funds, 52.2 million dollars will be for the Zambia Renewable Energy Financing Framework supported by the African Development Bank (AfDB) while 32.3 million dollars were meant for an agriculture project development by the Ministry of Agriculture and supported by the United Nations Development Program, according to state broadcaster, the Zambia National Broadcasting Corporation.
The project fund was approved at the ongoing 19th GCF Board Meeting in South Korea and the approved funds will trigger additional financing and raise the total net of the two projects to 281 million dollars.
GCF Mitigation and Adaptation Division Director German Velasquez said the projects will help strengthen climate resilience of agricultural livelihoods in some parts of Zambia and mitigate the effects of climate change on the energy sector.
The project being funded in the agriculture sector will cover smallholder farmers in 16 districts affected by the negative impact of climate change while in the energy sector, the approved funding was expected to result in generation of 80 megawatts of renewable energy, largely solar and will help improve access to electricity for rural households, he added.
Chola Chabala, Permanent Secretary in Zambia's Ministry of National Development Planning, said the approval of financing of the projects was expected to encourage private sector investment in agriculture and energy sectors.
