Namibia: Environmental Investment Fund Gains Accreditation for Climate Finance
The Environmental Investment Fund (EIF) announced this week that it received its accreditation as a national implementing entity (NIE) following the Adaptation Fund Board's Decision B.44-45/10 during the intersessional period between its forty-fourth and forty-fifth meetings.
The accreditation will enable the EIF to directly access international climate finance from the Adaptation Fund, enabling the design and implementation of transformative, country-led initiatives that bolster resilience against climate change, particularly for the most vulnerable communities.
"This accreditation is a testament to EIF's strong governance and commitment to impactful climate solutions," said EiF Chief Executive Officer, Benedict Libanda.
"It opens doors to deliver innovative projects that address the real challenges faced by our people and ecosystems," he added.
According to Libanda, the EIF is already developing a series of transformative projects aimed at enhancing climate resilience across Namibia's communities and key economic sectors.
These initiatives, designed in close consultation with government ministries, regional authorities, civil society, and local communities, are aligned with national development and climate adaptation priorities.
They include strengthening resettlement farms by improving infrastructure, ensuring reliable water access, promoting climate-smart agriculture, and developing market linkages to establish long-term sustainable livelihoods for vulnerable communities.
The second initiative, Sustainable Aquifer Management, involves piloting integrated water resource management in drought-prone regions to enhance climate resilience, complemented by climate-smart agriculture and sustainable value chains for environmental and economic benefits.
"These projects are being refined to ensure alignment with Namibia's Nationally Determined Contributions," he said.
Libanda said that as an accredited NIE, the EIF will serve as a key national conduit for Adaptation Fund resources, reducing reliance on multilateral intermediaries and fostering a more efficient, country-driven approach to climate adaptation.
"To maximize impact, EIF will soon launch an Adaptation Project Pipeline Development Strategy, engaging national stakeholders and international partners to deliver on Namibia's climate goals," he concluded.
Under this accreditation, EIF can access up to US$20 million (approximately N$370 million) – the country cap allocated by the Adaptation Fund to each eligible developing country.