Green Climate Fund Board in its 16th meeting held during 4 to 6 April 2017 at Songdo, South Korea sanctioned first ever project of India submitted by NABARD.
The project “Ground water recharge and Solar Micro Irrigation to ensure food security and enhance resilience in vulnerable tribal areas of Odisha” aims to respond to climate change challenges resulting in drought and floods affecting the food security of Agriculture dependent vulnerable communities.
The project aims to enhance groundwater recharge in the community ponds through structural adaptation measures and use of solar pumps for micro irrigation to ensure water security and food security in the vulnerable areas of Odisha State.
Project is expected to improve water table and water quality for health and well-being of about 5.2 million vulnerable communities including 50 % women in 15 districts of Odisha. The project would be implemented by the Department of Water Resources, Government of Odisha.
The total outlay of the project is USD 166.297 million with GCF support of USD 34.357 million, and balance funds would be supported by Government of Odisha and World Bank.
NABARD has been accredited as Direct Access Entity (DAE) of Green Climate Fund for channelizing resources under this fund. NABARD aims to use the GCF resources for projects and programmes related to climate resilient development and low emission pathways in India.
NABARD has also been accredited as National Implementing Entity (NIE) for Adaptation Fund of the United Nations Framework Convention on Climate Change (UNFCCC) as well designated as NIE for National Adaptation Fund for Climate Change. NABARD through its various programmes has been supporting climate resilient development in agriculture and rural livelihood sectors.
The Green Climate Fund has been designated as an operating entity of the financial mechanism of the UNFCCC and aims to support developing countries to limit or reduce their greenhouse gas emissions and to adapt to the impacts of climate change.
The Fund is a unique global platform to respond to climate change by investing in low-emission and climate-resilient development. GCF was established to limit or reduce greenhouse gas (GHG) emissions in developing countries, and to help vulnerable societies adapt to the unavoidable impacts of climate change. Given the urgency and seriousness of this challenge, the Fund is mandated to make an ambitious contribution to the united global response to climate change.