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$122 million in grants for climate adaptation and resiliency will benefit communities, housing, sugar industry and coastal erosion for Belize at COP28

Posted: Monday, December 4, 2023. 1:55 pm CST.

By Aaron Humes: On the sidelines of the 28th Conference of the Parties of the United Nations Framework Convention on Climate Change (UNFCCC COP 28) at Dubai, United Arab Emirates, Belize’s delegation has touted bilateral agreements for access to up to $122 million to support activities on in-country climate adaptation and resiliency building measures.

The grants include $10 million from the Adaptation Fund for building community resilience via transformative adaptation, to be implemented by the Protected Areas Conservation Trust (PACT) beginning in early 2024; $18 million from the Adaptation Fund proposed to be directed towards climate adaptation in housing which is threatened annually by damage and loss from hurricanes; and a region-wide grant of $8 million through the Central American Bank for Economic Integration (CABEI), targeting nature-based solutions to increase resilience to extreme climate events. This will be directed to solutions to the coastal erosion issues experienced by Belize, particularly the community of Monkey River, beginning in early 2024.

From the Green Climate Fund (GCF), a grant of $78 million will be directed to building the adaptation capacity of sugarcane farmers in the northern part of the country pending approval at the March 2024 meeting of the Board, as well as $8 million for its next readiness cycle.

Minister of State for Finance Christopher Coye and Chief Executive Officer Osmond Martinez led the negotiations.

The Government’s statement says, “Belize, known for its rich biodiversity and vulnerable coastal ecosystems, has long been at the forefront of climate advocacy. Securing this scale of adaptation financing is a huge accomplishment for Belize and yet another historical milestone under the Briceño administration. While the Belize delegation is pleased about the progress made, Belize will continue to advocate for climate justice for all Belizeans.”

COP 28 continues through December 12.

 

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