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Wednesday, September 28, 2022

Zambia heightens efforts to mobilise funds to combat climate change

The Zambian Government said on Wednesday, September 14, 2022, that it had heightened efforts to mobilise financial resources aimed at supporting climate change activities.

Hakainde Hichilema
President Hakainde Hichilema of Zambia

John Msimuko, the Permanent Secretary in the Ministry of Green Economy and Environment, said the government was creating a conducive environment aimed at attracting financing from multilateral and bilateral partners as well as the private sector.

He said the government had been working to mobilise climate financing from organisations.

“We have also been closely working with financial institutions to green the sector, to make more climate financing available to the private sector,” he said.

The government, he added, was also working towards putting in place an enabling environment for the private sector to invest in green financing, green growth and climate-related activities.

According to him, innovative financing mechanisms incorporating multilateral, bilateral and private sector partners were key to the success of a green economy.

He further said in view of stiff competition for scarce resources for combating climate change, the government was designing innovative projects and programmes with the involvement of local communities and private sector with support from partners.

He noted that the mismatch between the needs and available financing calls for developed countries to enhance the level of financing and for developing countries to strengthen the ability to attract diverse sources of finance for climate investments.

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