The Governments of Denmark, Germany, the Netherlands and Sweden pledged a combined total of USD 160 million in new funding for the LDCF.
Canada and the UK have pledged additional contributions.
The financing will be distributed as grants to support agriculture, improve disaster readiness and protect livelihoods as threats from storms, droughts and floods in LDCs increase.
26 September 2019: Six donor countries recently announced funding commitments to help the world’s most vulnerable nations adapt to climate change through the Least Developed Countries Fund (LDCF). The Global Environment Facility (GEF)-managed LDCF is the only multilateral fund fully dedicated to climate action in LDCs.
The Governments of Denmark, Germany, the Netherlands and Sweden pledged a combined total of USD 160 million in new funding for the LDCF. Germany will contribute EUR 50 million; Sweden will provide approximately EUR 50 million over four years; the Netherlands will contribute an additional EUR 20 million; and Denmark plans to contribute an additional USD 31 million to the Fund in 2020, pending parliamentary approval.
Furthermore, Canada announced an additional contribution of USD 7.5 million at last month’s G7 Summit in Biarritz, France. The UK has announced a doubling of its contribution to climate finance over five years, with its LDCF allocation yet to be determined.
The announcements were discussed during a Ministerial Dialogue, hosted by the GEF, the Government of Germany and the LDC Group during Climate Week NYC, on 24 September 2019. The financing will be distributed as grants to support agriculture, improve disaster readiness and protect livelihoods as threats from storms, droughts and floods in LDCs increase.
During the event, dialogue moderator Mary Robinson, Chair of the Elders and former President of Ireland, said the LDCF has been supporting access to improved water supplies, strengthening infrastructure, expanding access to improve flood and storm early warning systems, and facilitating the transition to climate-smart agriculture and sustainability. She said the LDCF represents a good model for financing climate adaptation priorities.
The LDCF, which was established in 2001, has to date supported 282 projects in LDCs, with approximately USD 1.3 billion in grant resources. The projects are expected to directly reduce the vulnerability of more than 21 million people. [GEF Press Release] [Ministerial Dialogue Agenda] [Ministerial Dialogue Landing Page] [Ministerial Dialogue Announcement] [IISD RS Coverage of the Dialogue]