Liberia has been selected to host next year's Board Meeting of the Green Climate Fund (GCF), a release has said.
According to the release, the decision was arrived at on Thursday, November 14, 2019 at the 24th Session of the Board of Directors of the GCF in Songdo, South Korea, where Liberia was overwhelmingly selected to host the GCF's Board Meeting on February 5-7 2020.
The selection of Liberia to host the upcoming Board Meeting, the release said, signifies a major leap in attracting donor supports to address environmental and climate change challenges; improve the quality of living for Liberians and give boost to the economy.
GCF is a new global fund created to support the efforts of developing countries to respond to the challenge of climate change.
It helps developing countries limit or reduce their greenhouse gas (GHG) emissions, and adapt to the impact of climate change.
One hundred and ninety-four countries who are parties to the United Nations Framework Convention on Climate Change (UNFCCC), set up the GCF in 2010 as part of the Convention's financial mechanism.
It aims to deliver equal amount of funding to mitigation and adaptation, while being guided by the Convention's principles and provisions.
While the GCF Informal Board Meeting will focus primarily on finalizing the Fund four year Strategic Plan, it will offer a perfect opportunity for Liberia to engage with World Bank, United Nations Development Program (UNDP), African Development Bank (AfDB), European Union (EU), the International Fund for Agricultural Development (IFAD), and other development partners how to scale up Climate Action in Liberia consistent with UN Secretary- General, António Manuel de Oliveira Guterres' call for ambition climate Action to support vulnerable communities and people.
The GCF is governed by a Board of 24 members representing developed and developing countries equally.
Therefore, Liberia's selection will bring together about 300 international guests into the country, which will attract enormous economic benefits in the country, amid visible impact of climate change in Liberia.
The Environmental Protection Agency of Liberia (EPA) in partnership with the UNDP submitted a funding proposal to the GCF for the Monrovia Metropolitan Climate Resilient Project (MMCRP).
The Board will decide on the grant support under which seeks to address the coastal erosion problem in West Point Community in the tune of about US$40 million grant.
It can be recalled in July 2018, President George Weah, together with the Legislature and cabinet ministers agreed sourcing funding to address the impact of climate Change on the Liberia shores, while contributing to achieving sustainable development.
The Government of Liberia through the EPA welcomed the decision of the global community (Green Climate Fund, a Financial Mechanism of the United Nations Framework Convention on Climate Change), and looks forward receiving the Board members and Alternates, Advisers, Secretariat Staff and International Guests to Liberia.