• Fund to facilitate accreditation of Zambia Industrial Commercial Bank (ZICB) to the Adaptation Fund.
• The grant will help strengthen the capacity to access climate adaptation finance
• ZICB will be able to manage all aspects of the project, from formulation to execution by hand-holding the project developers.

Ministry of Green Economy and Environment has obtained a Readiness Package Grant of US$145,000 from the Adaptation Fund to facilitate accreditation of Zambia Industrial Commercial Bank (ZICB) to the Adaptation Fund.
Ministry’s Communications Officer Chibaula Silwamba told Money FM News that the grant will help strengthen the capacity to access climate adaptation finance.
Mr. Silwamba stated that the fund will further help to develop and initiate implementation of concrete projects that increase the resilience of vulnerable communities to the impacts of climate change.
“Zambia has never accessed climate financing from the Adaptation Fund. However, Zambia initiated a process to do so which is currently underway. Further, the nomination of Zambia Industrial Commercial Bank for accreditation as a National Implementing Entity will also increase these chances to access climate financing from the Adaptation Fund,” he said.
Mr. Silwamba said when ZICB is successfully accredited, Zambia will be able to access Adaptation Fund grants through a Direct Access Entity.
He further explained that the entity will be able to manage all aspects of the project, from formulation to execution by hand-holding the project developers.
“The Centre de Suivi Ecologique (CSE) of Senegal, which is working in collaboration with Zambia’s National Designated Authority (NDA) in the Ministry of Green Economy and Environment, supported Zambia’s application for accreditation to the Adaptation Fund. The NDA identified CSE to provide intermediary services and to assist ZICB in the preparation and submission of its accreditation application. The Adaptation Fund provides grants through its Readiness Programmes to enable National Implementing Entities to provide peer support to others in navigating the accreditation process while strengthening countries’ capacities to achieve Direct Access,” he added.
Mr. Silwamba revealed that the Adaptation Fund provides grants through its Readiness Programmes to enable National Implementing Entities to provide peer support to others in navigating the accreditation process while strengthening countries’ capacities to achieve Direct Access.
“Ministry welcomes the Adaptation Fund’s grant of support to Zambia as it support includes among others, updating manual of internal procedures,” he said.