Public Management

Liberia: African Development Bank extends $10 million grant to enhance climate information systems

Liberia: African Development Bank extends $10 million grant to enhance climate information systems
Monday, 31 January 2022 11:33

The Board of Directors of the African Development Bank has approved a $10 million grant from the Green Climate Fund, for which the Bank is the accredited agency, to improve Liberia’s early warning weather systems.

The project will also receive $431,969 from the Bank’s ClimDev Africa Special Fund and $1 million from the government of Liberia. The funding will strengthen the country’s capacity to produce tailored, sector-specific climate information services for the benefit of the most vulnerable. Weather disasters cost the country around $6.17 million each year, a figure that is expected to almost double in the next decade, and triple by 2040 under the baseline scenario.

Samuel D. Tweah, Jr., Liberia’s Minister of Finance and Development Planning, said: “Liberia will be better equipped to generate and disseminate accurate climate and weather information for climate change mitigation and early warning, food security, water security and environmental protection. These improvements will enable us to understand how disaster losses occur and how to avoid them in the future, saving lives and preventing economic losses.”

Al Hamndou Dorsouma, the Bank’s Officer-In-Charge for Climate Change and Green Growth, said: “This project underscores the African Development Bank’s commitment to supporting African countries to improve the use of climate information services, which are key drivers of climate resilience, and will be vital to ensuring a green recovery from the Covid-19 pandemic.”

Liberia’s Environmental Protection Agency will execute the project on behalf of the government over five years. It will directly benefit around 2.3 million farmers and coastal residents, who bear the brunt of climate events. Around 5.4 million people in weather-dependent sectors will benefit indirectly, including those in agriculture and energy production.

The project will entail the installment of a weather radar at the country’s Roberts International Airport and establish unmanned aerial systems for upper-air observation. It will promote the establishment of interlinked community and national early warning systems.

bousculade stade olembe 2

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Côte d’Ivoire will receive $234 million for a sustainable urban mobility project in Abidjan. Gambia will receive $32.2 million to build...
Stanbic IBTC and Zenith Bank cut monthly card spending abroad to $500 and $200 Foreign reserves fall by $3.5 billion in six...
Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 million in transactions by end-2025. The fintech...
• Kenya and ASR sign deal to reduce risk on projects worth up to $2 billion.• Risk cover will target infrastructure, energy, logistics, and trade...
Most Read
01

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
02

• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...

Qatar Airways Expands its Network in Africa, Building Presence in Kigali, Johannesburg, and Nairobi
03

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
04

• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...

EY’s Exit Creates $1bn Opportunity in Francophone Africa Consulting Market
05

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.