The World Wide Fund for Nature – WWF has injected €160 million into the Dutch Fund for Climate and Development – DFCD meant to respond to effects of climate change the country is currently facing.
The DFCD which has been sponsored by the Dutch government is a fund created to provide support to private sector companies to develop bankable climate change related projects that investors can support across four countries, namely Zambia, Kenya, Turkey and Paraguay.
Speaking during the lunch of the fund in Lusaka on December 3, 2019, WWF Country Director Nachilila Nkoma disclosed that DFCD is currently under a business plan which is critical for Zambia as it will improve the well-being of the most venerable people including Women and Children.
She said Zambia is living under effects of climate change which has led to lower water levels in the country’s water reservoirs hence imposing load shedding on households and businesses in the country therefore the need to take proactive stance in coming up with solutions to deal with effects of climate change.
Nachilila added that Zambia’s economy currently relies on water as sectors such as Tourism, Agriculture and energy are most dependent on it and that the fund is an excellent opportunity for Zambia’s private sector to embark on an informed science-based process to support the development of bankable solutions for companies and industries affected by climate change.
And Ministry of Finance Permanent Secretary in charge of Internal Audits Joyce Phiri said tackling climate change cannot be done by government alone, but requires collective action by various stakeholders hence the launch of the climate fund is one such action.
She added that government is proactive in ensuring that agriculture sector becomes more resilient by giving timely information to all farmers on climate forests and supporting the full implementation of the climate-smart initiative such as support to conservation agriculture.
“Among the measures that government has taken is the development of a climate change policy at the national level and the ministry of planning is implementing climate related projects such as the pilot project for climate change therefore will continue to take measures that ensure a conducive business environment to attract and support both local and foreign investments,” She added.
