Malawi to Benefit US450$ Climate Change Fund

Malawi is among the first six Least Developed Countries (LDCs) to benefit from the member states’ request for 450 million dollars to fight climate change.

This was disclosed by Chairperson of the Least Developed Countries for Climate Action Summit Sonam Wangdi during a news conference at United Nations General Assembly

According to Wangdi LDCs are asking for an initial 450m of investment over 10 years in the LDC Initiative for Effective Adaptation and Resilience (LIFE-AR).

“This will  help them to deliver the adaptation and resilience work outlined in their vision. The money will support the countries which are the first to join the drive – Bhutan, Ethiopia, The Gambia, Malawi, Tanzania, and Uganda,” he said

Malawi is Chair for the Least Developed Countries Group.

The LDCs also launched a 2050 Vision for a climate-resilient future which calls for every country to produce a national strategy to prevent global warming beyond 1.5°C.

Minister of Natural Resources, Energy and Mining, Bintony Kutsaira, who was available at the press conference, said Malawi was not spared from the effects of climate change.

Kuntsaira said the Climate Action Summit was an important milestone on the road to 2030 and 2050.

He said earlier this year, Cyclones Idai and Kenneth left a devastating path of destruction affecting close to two million people and killing hundreds.

“In Malawi, approximately 975,000 people were affected with 87,000 people internally displaced and total effects are estimated at over 370.5 million dollars,” said Kumtsaira

African Development Bank President, said the bank will mobilize global partners to provide 250 million dollars to help African countries to get insurance payout of 1 billion dollars by 2030 towards climate change.