Mogadishu, (SONNA) – A five-day Strategic Climate Finance Advisory Mission – “Somalia Trial” forum focused on climate change and Somalia’s climate finance access mechanisms, led by the National Climate Change Fund of Somalia (NFC), concluded today in Mogadishu.
The forum centered on assessing Somalia’s climate finance needs and the importance of fully utilizing available opportunities. Throughout the sessions, participants conducted a comprehensive review of the country’s climate finance requirements and held discussions with the Somali Bankers Association on financial innovation and the NFC’s leadership. These engagements are expected to inform a special program being prepared for national banks to strengthen access to climate finance within Somalia’s climate change framework.
Senior officials from the Ministry of Finance, the Somalia Development and Reconstruction Bank (SDRB), and the National Climate Change Fund presented reports on existing pathways for accessing climate-related funding, focusing on opportunities within the Green Climate Fund (GCF) and the Adaptation Fund.
“This five-day forum has been crucial in helping the Federal Government of Somalia prepare for direct access to climate finance and manage it in line with improving national systems,” said Liban Obsiye, Executive Director of the NFC.
Somalia currently relies on international and national entities accredited by the GCF and Adaptation Fund to implement climate projects. This comes despite Somalia being one of the lowest greenhouse gas emitters and among the countries most vulnerable to the adverse impacts of climate change.
The forum 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, which Somalia joined during COP28 two years ago and continues to receive technical support through the NFC.
