Developed countries pledge US$248m to Least Developed Countries Fund
THE governments of the United States of America, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Sweden, Switzerland and the United Kingdom have announced contributions totalling US$248 million to the Least Developed Countries Fund (LDCF) hosted by the Global Environment Facility (GEF).
The LDCF plays a key role in addressing urgent and immediate adaptation needs of least developed countries, focusing on reducing the vulnerability of sectors and resources that are central to human and national development, such as water, agriculture and food security; and infrastructure, as identified and prioritised in their National Adaptation Programmes of Action.
The LDCF also supports the national adaptation planning process in coordination with others as a means to reduce mediumand long-term vulnerability to the impacts of climate change and facilitate the integration of climate change adaptation into relevant policies, programmes and activities. From the LDCF’s inception in 2001 through June 2015, US$931.5 million has been approved for projects, programmes, and enabling activities to meet this mandate. Projects supported by the LDCF have mobilised $3.8 billion in cofinancing in 51 countries.
The new pledges will continue supporting priorities identified by recipient countries that are essential for climate-resilient sustainable development and livelihoods:
• Germany will contribute a total of 50 million euros (approximately $53.0 million USD) in 2015/2016;
• The United States announces a contribution totalling US$51.175 million in 2015 and 2016;
• The UK will provide £30 million (approximately US$45.1 million) in 2016;
• France will provide a contribution of 25 million euros (approximately US$26.5 million) in 2016;
• Canada will contribute CAD$30 million (approximately US$22.4 million) over the next two years;
• In 2016 Denmark will commit DKK 156 million (approximately US$22.1 million), subject to parliamentary approval. With this pledge, the cumulative Danish contribution to the LDCF amounts to 376 million DKK (approximately US$53.4 million).
• In 2016 the Swedish Government intends to provide a grant to the LDCF of SEK 100 million (approximately US$11.5 million).
• Ireland will continue to support the LDCF and will provide, subject to budget approval, at least 6 million euros (approximately US$6.4 million) by 2020;
• Switzerland will increase its annual contribution to the LDCF by 75 per cent and will provide in total CHF 6.25 million (approximately US$6 million) 2015 until 2018;
• Italy will provide, through its ministry for the environment, US$2 million by the end of 2015. Italy is strongly committed to scale up its support to the fund in the following years, including in 2016, subject to budget availability and approval;
• Finland has supported the LDCF since 2003, with the cumulative contribution amounting to about 32 million euros (approximately US$41 million at the time of contribution). This includes the contribution given this year, 1.6 million euros, (approximately US$1.8 million at the time).
— US State Department
