The Minister of State for Microfinance, Haruna Kasolo Kyeyune, has stated that the East African Community (EAC) is in need of USD 212.81 billion to implement various climate actions.
Kyeyune stated this as he opened a two-day meeting to discuss climate access and mobilisation strategies. The meeting that started yesterday, September 20, and ends today, Thursday, September 21, 2023, is being held at the Imperial Golf View hotel in Entebbe.
Kyeyune said that climate change continues to affect development gains even when a number of global and local-level interventions have been undertaken.
“Lack of predictable climate finance continues to top the list of barriers towards effective climate action at all levels,” Kyeyune said.
Kyeyune emphasised that Uganda alone will require USD 28.1 billion to implement climate action.
Kyeyune noted that, in the recently concluded Africa Climate Summit 2023, they critically analysed the role of enhanced strategic partnerships and collaborations between governments, financial institutions, the private sector, development partners, and other relevant stakeholders in mobilising additional and innovative climate finance.
The meeting will harmonise the positions of EAC member countries ahead of the Conference of Parties (COP 28), under the UN framework Convention on Climate Change, scheduled to take place from November 30 to December 12, 2023, in Dubai, United Arab Emirates.
