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150 million from Italy to Kenya for the climate emergency

Funding under the Mattei Plan for Africa

15-11-2024 by redazione

From Italy comes another grant to Kenya for the climate emergency. Rome and Nairobi yesterday signed a EUR 150 million agreement for the African country's ‘climate mitigation and resilience building’. 
The aid comes from the Italian Climate Fund (Fic), managed by Cassa Depositi e Prestiti, which is the instrument set up by the Italian government to finance projects to combat climate change and protect the environment in developing countries (and 75% in Africa). It is one of the initiatives envisaged under the Mattei Plan, under which over 4 billion euro have been earmarked and projects worth over 552 million have already been approved, 91% of which are earmarked for Africa.
The agreement was signed at Cop29 in Baku in the presence of Deputy Foreign Minister Edmondo Cirielli, Undersecretary for the Environment Claudio Barbaro, and the director of Nema, the national environmental authority, Mamo B. Mamo.
Among the measures that the Kenyan government has pledged to activate are the strengthening of sustainable urban transport to reduce emissions from fossil fuels, incentives for reforestation, resulting in lower CO2 emissions, and the development of financial instruments to combat climate change, such as a market for carbon credits and green bonds to support the country in its transition to a green economy. 
To implement these measures, the government will have to implement a series of political, regulatory and legislative reforms.

TAGS: Piano MatteifinanziamentoclimaemergenzaBarbaroAmbiente

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