African Export-Import Bank (Afreximbank) has developed a climate change adaptation facility in Kenya that aims in response to the current climate challenges affecting the country.
Kenya is already feeling the effects Climate change. The widespread poverty, recurrent droughts, floods, inequitable land distribution, over-dependence on rain-fed agriculture, and few coping mechanisms all combine to increase people’s vulnerability to climate change. For instance, disadvantaged people have little security against intense climatic actions. They have few resource reserves, poor housing and depend on natural resources for their living.
Climate change adaptation facility
The facility will be a five year project that targets to raise US $ 5billion capital at the national level to build the resilience of Kenyans in various sectors. Out if US $800million will be used to set 100 irrigation dams in response to drought.
The development of irrigation infrastructure will enable Kenya to increase the area of irrigated land to about 566,560 hectares in three years, up from the current level of about 271,140 hectares. The future water reservoirs will also reduce the practice of rain-fed agriculture in Kenya, which has “become uncertain”.
“Special attention will be given to the most water-stressed counties in the arid and semi-arid (ASAL) zones. According to the International Union for Conservation of Nature (IUCN), the Asals cover 80% of Kenya, with 16 million people living in these areas, or about 30% of the population,” says Benedict Okey Oramah, Afreximbank’s board chairman.
Afreximbank’s financing facility will also support the development and operation of industrial parks in Kenya, as well as youth empowerment through agriculture, commercial irrigation, housing, creative industry and the micro, small and medium enterprise (MSME) ecosystem.