Belgium provides extra 7 million EUR for Least Developed Countries Fund
Deputy Prime Minister and Minister for Development Cooperation Alexander De Croo decided to make available an additional grant of 7 million EUR for the Least Developed Countries Fund. He makes this announcement in the margins of the COP23, the UN Climate Conference which is currently on-going in Bonn. With these extra resources, Belgium wants to help the most vulnerable countries to become more resilient against the impact of climate change.
The programs and projects of the Least Developed Countries Fund (LDCF) aim to increase the resilience of vulnerable communities in least developed countries against drought, floods, violent storms and other consequences of global warming.
The LDCF has made available 1 billion USD to vulnerable countries through more than 250 projects in 51 countries. With this money more than 4,8 billion USD for climate actions was mobilized. Short term demand still exceeds however available resources.
Most vulnerable countries amongst the first affected
With this new contribution, Belgium wants to send a positive signal over its strong support to this fund and towards the most vulnerable countries. These countries, which are already particularly vulnerable, are often also amongst the first affected by the concrete consequences of climate change.
This new financing enables the Global Environment Facility (GEF), which manages the LDCF, to invest in a number of new projects. These include for example innovations in agriculture, national adaptation plans and the build-up of resilience against climate change and natural disasters.
Appreciation for Belgium’s support
GEF’s CEO and Chairperson Naoko Ishii welcomes this new contribution from Belgium: “recent weather disasters have shown all too clearly the negative impact of climate change on the poorest and most vulnerable countries and communities. I wish to thank Belgium for its additional contribution to the LDCF and commitment for adaptation measures.“
Belgium is an important contributor to the LDCF. Belgium has contributed a total of 87.44 million EUR to the LDCF since 2009. Other international climate financing of the Belgian federal and regional governments are channeled through contributions to international climate funds such as the Green Climate Fund and the Adaptation Fund, through the Belgian Investment Company for Developing Countries (BIO) and several bilateral programs and projects in our partner countries.
