National Environment Trust Fund (NETFUND) has been accredited by the Adaptation Fud to receive and manae climate financing in Kenya.
The accreditation will allow NETFUND to directly access financing and manage all aspects of climate adaptation and resilience projects, from design through implementation to monitoring and evaluation.
The fund which is based in Bonn, Germany is responsible for financing climate adaptation projects and programmes in developing countries and has committed $1.25 billion towards climate change adaptation since 2010.
“This milestone will undoubtedly enable us impact on vulnerable communities that are in urgent need of adaptation solutions. We are thankful to the Adaptation Fund and the Ministry of Environment, Climate Change and Forestry without whose goodwill and leadership, this milestone would not have been achievable,” said Samson Toniok, NETFUND Chief Executive Officer.
NETFUND is now the 36th National Implementing Entity (NIE) under the Fund’s pioneering direct access modality and is the second to be chosen in Kenya after the National Environment Management Authority (NEMA).
The funding will also allow the fund to build capacity, and demonstrate its commitment to sound financial and environmental practices.
“I would like to assure NETFUND’s commitment to sound financial and environmental practices” added Toniok.
NETFUND was nominated for accreditation by the Ministry of Environment, Climate Change and Forestry which is the Designated Authority (DA) for the Adaptation Fund in the Kenya.
