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Going local: fast tracking climate finance to the most vulnerable

Neha Rai

Backgrounder, 2 pages

To respond to the impacts of climate change, developing countries need climate finance in the right quantities, delivered at the right speed. Finance is being channelled to local communities to some extent, but it’s neither enough nor at the pace needed by the poorest, most vulnerable nations. At the same time, most climate finance is being invested in large-scale projects that take considerable time to design, finance and deliver; this is slowing climate action further.

Drawing on our experience of more than 25 years of work on local finance, IIED is building international awareness of the benefits of decentralising finance, and strengthening local capacities to access and manage those resources.

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County and local governments in the drylands of Kenya, Mali, Senegal and Tanzania are establishing local-level climate adaptation funds with technical support from IIED and government and non-government organisations. These funds improve their readiness to access and disburse national and global climate finance, supporting community-prioritised investments to build climate resilience.

More at www.iied.org:
Local climate finance mechanism helping to fund community-prioritised adaptation