Nov 30(Jowhar)-A 5-day climate finance training and needs assessment delivered by the National Climate Fund (NCF) concluded yesterday in Mogadishu.
It started with a 3-day tailored training session for senior officials from the Ministry of Finance and the Somali Development and Reconstruction Bank (SDRB) on climate finance access and opportunities with the Green Climate Fund and Adaptation Fund.
In addition, as the Somali government has nominated both institutions to apply for Direct Access Entity status to receive direct financing from the GCF, further training and simulation exercises were undertaken to prepare for this objective.
During the last 2 days of the exercises a general climate finance needs assessment was undertaken with the NCF and its senior staff. This was accompanied by discussions on innovative financing instruments with the Somali Bankers Association which will result in a future tailored program for the sector.
“The 5-day training was fundamental for ensuring the Somali government effectively prepares for accessing future climate financing directly, on budget and disbursing it within the improving country systems,” said Liban Obsiye, the Executive Director of the NCF.
Currently Somalia relies on a web of other accredited entities to deliver GCF and Adaptation Fund projects in the country including the UN agencies and some national and international NGOs. The country also receives among the lowest amounts of climate finance despite contributing the least amount of emissions and the disproportionate impact of climate change on its people and their livelihoods.
The 5-day training and engagements was also attended by senior officials from the Office of the Prime Minister, Ministry of Planning, Ministry of Environment and Ministry of Agriculture. It was supported by the UK FCDO Pioneer Country Trials which Somalia joined at COP28 two years ago.
