Mogadishu (Sahan Post) \u2013 A five-day conference focused on climate change adaptation and Somalia\u2019s climate-finance access mechanisms, led by the National Climate Fund of Somalia (NCF), has concluded in Mogadishu.<\/p>\n
The conference centered on assessing Somalia\u2019s climate-finance needs and exploring opportunities to utilize available resources effectively. Throughout the sessions, participants conducted a broad evaluation of the country\u2019s climate-finance requirements and held discussions with the Somali Bankers Association on financial innovation. These talks are expected to guide the development of a future program designed to strengthen the banking sector\u2019s role in facilitating access to climate-finance mechanisms.<\/p>\n
Senior officials from the Ministry of Finance, the Somalia Development and Reconstruction Bank (SDRB), and the National Climate Fund presented reports outlining the procedures for accessing climate-finance. Presentations also highlighted available opportunities within the Green Climate Fund (GCF) and the Adaptation Fund.<\/p>\n
\u201cThis five-day conference was crucial in helping the Government of Somalia prepare for direct access to climate financing and to manage it in accordance with improving national systems,\u201d said Liban Obsiye, Executive Director of the NCF.<\/p>\n
Somalia currently relies on accredited international and domestic institutions to access GCF and Adaptation Fund resources. Despite contributing the least to global emissions, it remains among the countries most vulnerable to the adverse impacts of climate change.<\/p>\n
The conference was also attended by senior representatives from the Office of the Prime Minister, the Ministry of Planning, the Ministry of Environment and Climate Change, the Ministry of Agriculture, the National Economic Council, and the UK FCDO Pioneer Country Trials program. Somalia joined the Pioneer initiative during COP28 two years ago, and it continues to receive technical support from the program through the National Climate Fund.<\/p>\n