The Climate Investment Funds (CIF) has announced a significant commitment of $350 million in financing and support for nature-based solutions across nine countries as part of its Nature, People, and Climate Investment platform. The beneficiary countries include the Dominican Republic, Egypt, Fiji, Kenya, and the Zambezi River Basin region, which encompasses Zambia, Malawi, Mozambique, Namibia, and Tanzania. This announcement was made during the global climate summit, COP27, held in Sharm el-Sheikh, Egypt.
The Nature, People, and Climate program aims to implement nature-based solutions that recognize the interconnections between land use, climate change mitigation and adaptation, and the enhancement of livelihoods for rural communities and Indigenous peoples. The program addresses critical areas such as sustainable agriculture, food security, forest management, resilient coastal ecosystems, and the empowerment of Indigenous and local communities.
In the next phase, participating countries will collaborate with various multilateral development banks to develop comprehensive investment plans. The platform seeks to de-risk and scale investments through a systems-level approach rather than a project-specific focus.
Mafalda Duarte, the CEO of the Funds, highlighted the overwhelming interest in the program, noting that 55 developing countries applied for participation in recent months, demonstrating an urgent demand for climate finance. “I extend our gratitude to Italy, the United Kingdom, and Sweden for their incredible partnership. Congratulations to these countries; we cannot wait to get started. This is just the beginning. We will also be supporting Ethiopia, Rwanda, Namibia, and Brazil in preparing their investment plans, in anticipation of receiving further contributions,” Duarte stated.
During the opening remarks, Italy’s Special Envoy for Climate Change, Ambassador Alessandro Modiano, addressed the pressing challenges facing humanity: “We are facing a dual threat: climate change and biodiversity loss, both dire consequences of human activities and economic progress at the expense of nature,” he emphasized.
A panel discussion followed the announcement, featuring prominent figures such as Egypt’s Minister of International Cooperation, Rania Al-Mashat; Zambian Minister of Green Economy and Environment, Collins Nzovu; the Netherlands’ Climate Envoy, Prince Jaime de Bourbon de Parme; and Beth Dunford, Vice President of Agriculture, Human and Social Development at the African Development Bank.
Dunford underscored the significance of empowering farmers to adopt nature-based solutions. “For agriculture to thrive, we must have healthy ecosystems that farmers can help restore. Providing them with the necessary technology and information will enable them to adapt and become more climate resilient,” she remarked.
Minister Al-Mashat expressed gratitude on behalf of her country, stating, “We have a lineup of priority projects focused on adaptation and mitigation. These funds will be instrumental in implementing our plans.”
Minister Nzovu praised the collaborative efforts of organizations and partner countries to support African nations in need of climate financing. “Africa must adopt nature-based solutions to ensure food and water self-sufficiency as a continent. It is crucial to raise awareness among both politicians and citizens about why their countries are sending funds abroad.”
According to the United Nations Environment Programme (UNEP), annual nature investments from G20 nations must increase by an additional $165 billion per year—a 140 percent rise from current levels—to meet biodiversity, land restoration, and climate targets by 2050.