A five-day conference on climate change and Somalia’s climate finance systems, led by the National Climate Fund (NCF), concluded in Mogadishu this week. The event focused on assessing the country’s climate finance needs and exploring ways to improve access to funding.
During the conference, participants reviewed Somalia’s climate finance requirements and discussed innovative financial solutions with the Somali Bankers Association. The aim is to develop a future program that strengthens domestic banks’ capacity to facilitate climate finance initiatives.
High-level officials from the Ministry of Finance, the Somali Development and Reconstruction Bank (SDRB), and the National Climate Fund presented reports highlighting opportunities to access climate funding through the Green Climate Fund (GCF) and the Adaptation Fund.
“Over the past five days, this conference has laid the foundation for the Somali government to prepare for direct access to climate finance and manage it according to evolving government systems,” said Liban Obsiye, Executive Director of NCF.
Currently, Somalia relies heavily on international and national agencies recognized by the GCF and the Adaptation Fund to implement climate projects. Although the country has one of the lowest greenhouse gas emissions globally, it remains highly vulnerable to the negative impacts of climate change.
The conference also brought together senior officials from the Prime Minister’s Office, Ministry of Planning, Ministry of Environment and Climate Change, Ministry of Agriculture, the National Economic Council, and UK FCDO Pioneer Country Trials, which has been providing technical support to Somalia’s NCF since the country joined the initiative at COP28 two years ago.
The event represents a key step in strengthening Somalia’s capacity to mobilize and manage climate finance, ensuring sustainable programs that address the country’s growing climate vulnerabilities.