DFC Nominated for Accreditation to the Adaptation Fund
DFC has been nominated for accreditation to the Adaptation Fund (AF). Announced on November 12 by the Ministry of Economic Development, this nomination follows a meeting between Belize and the AF in October. Once accredited, the DFC will help mobilise grants for projects aimed at strengthening the country’s resilience to climate change, including climate-resistant housing and infrastructure protection.
“The nomination marks a crucial step in advancing Belize’s capacity to finance climate adaptation initiatives and support the resilience of communities facing the impacts of climate change,” the Ministry stated.
The Adaptation Fund, established in 2001, provides financing for projects that help vulnerable countries adapt to climate change through initiatives like improving water management, protecting coastal areas, and enhancing food security.
According to the Ministry, the accreditation process will ensure the DFC meets stringent international standards for fiduciary responsibility, transparency, and accountability. Being that Belize is ranked by the IMF as one of the world’s most vulnerable nations to climate change, particularly from hurricanes and rising sea levels, this move positions Belize to secure vital funding and strengthen its climate resilience for the future.
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