Adaptation Fund - Opening new opportunities in Europe and Central Asia region
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The Adaptation Fund is a multilateral instrument launched in 2007 to finance concrete climate change adaptation projects and programs. AF aims at “enhancing adaptive capacity, strengthening resilience and reducing vulnerability to climate change” at a national and regional scale through the country and community-driven initiatives.
Since 2018, FAO’s Regional Office for Europe and Central Asia (REU) in the framework of Regional Initiative 3: Managing natural resources sustainably and preserving biodiversity in a changing climate has positioned as an important role player in the region in terms of providing support and accelerating countries’ capacities to access climate finance.
In this context, climate-financing mechanisms such as the Global Environment Facility (GEF), the Green Climate Fund (GCF), and the Adaptation Fund (AF) have been established specifically to assist middle-income countries in mitigating and adapting to the effects of climate change. With such experience and accreditation as Multilateral Implementing Entity, FAO can support the countries of the ECA Region to benefit from AF to build climate resilience, and to reach their climate change adaptation goals indicated in their Nationally Determined Contributions (NDCs).
Adaptation Fund brings several new opportunities since the funds are still available in many countries of the Region, therefore the aim of this leaflet to introduce this possibility and provide support for the countries to apply for it.