Dubbed ALTÉRRA, the fund will allocate $25 billion to climate strategies and $5 billion to incentivize investment flows to countries like Uganda or generally the global South to fight the effects of climate change.
The money will help in restoration of degraded wetlands in different parts of the country. The eight-year project is supported with a US24.14 million grant from the Green Climate Fund, US2 million from UNDP and US18.12 million in co-financing from the Government of Uganda.
African Environmental groups at the Climate Change conference in Peruvian city Lima have demonstrated against failure by governments to agree on what should be included in a new climate change agreement.
In an interview Byanyima says poor countries should not be made to foot the cost of adaptation when the problem they are trying to respond to was largely caused by the Developed countries.
Delegates at the UN climate change conference in Durban, South Africa say the negotiations should end with an agreement to launch the Green Climate Fund (GCF) needed to adapt and mitigate the effects of climate change.
