A new trust fund will help communities alleviate the effects of climate change in Tonga.
Deputy Prime Minister, Siaosi Sovaleni launched the Climate Change Trust Fund with the Asian Development Bank last Friday.
“The vision through the Climate Change Trust Fund is to enable all communities to strengthen their coping capacities by ensuring they have complete ownership of their projects, and to ensure that all communities are given the flexibility to design, implement, and steer the priorities, and future development of their communities,” said Mr Sovaleni.
“ADB is pleased to be able to support the government roll out its first climate trust fund to mainstream climate investments to include key vulnerable sectors to build a more resilient Tonga,” said Climate Change Trust Fund coordinator Tatafu Moeaki at the launch.
The purpose of the Climate Change Trust Fund is to finance small, community-based climate adaptation and mitigation projects and fund the climate component of non-community- based projects. The fund will also provide supplementary financial support to small scale community-based, climate-related projects proposed by other organizations such as church groups, charities, and non-government organizations.
The trust fund is part of the Tonga Climate Resilience Project financed by a $19.25 million grant from the ADB Strategic Climate Fund. The Government of Tonga is contributing $2.45 million to the initiative. The Climate Change Trust Fund accounts for $5 million of the total project cost.
The project aims to mainstream climate resilience into government planning, address country priorities focusing on the most vulnerable sectors and communities, as well as strengthen the government’s and the community’s capacity to finance, develop, monitor, and implement investments to improve ecosystem resilience and climate proof critical infrastructure.