By Chisomo Phiri
Minister of Finance and Economic Affairs Simplex Chithyola Banda has hailed Green Climate Fund (GCF) for approving a $52.3 million (approximately K91.6 billion) project aimed at helping Malawi cope with the devastating effects of climate change and boost the country’s long-term food security.
The Ecosystems-based Adaptation for Resilient Watersheds and Communities in Malawi (EbAM) project was approved by the GCF Board at its 39th meeting in Songdo, South Korea.
The project proposes to restore and sustainably manage watershed ecosystems using the ecosystem-based adaptation (EbA) approach combined with integrated landscape management.
It targets improving livelihoods and food security by stabilizing productivity and incomes through resilient food systems.
Over six years, the project will improve the management of 267,500 hectares of land.
Additionally, it supports resilient market chains and local enterprises through Public-Private Producers Partnerships (4P) and aligns with Malawi’s efforts to enhance access to finance for Micro, Small, and Medium Enterprises (MSMEs).
The project also aims to support Malawi’s National Climate Change Fund (NCCF) and strengthen local trusts, leveraging private sector experience on carbon credits through local partnerships.
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