The program is funded by the Least Developed Countries Fund
(LDCF) of the Global Environment Facility (GEF) for a total amount of US $17 million.
The Government has raised its level of ambition and, to strengthen efforts, is now providing additional funds of SEK 185 million each to the Adaptation Fund and the Least Developed Countries Fund
Funded through the Least Developed Countries Fund
(LDCF) and administered by the Global Environment Facility (GEF) with an investment of US $ 11,491,200, the project entitled 'Addressing the Risks of Climate-induced Disasters through Enhanced National and Local Capacity for Effective Actions (2014-2017)' will be the world's largest climate change adaption project.
And less than half of that, some EUR67 million(pounds 32 million), has actually been paid to the Least Developed Countries Fund
- a figure Oxfam described as an "insult" as industrial countries have been the biggest contributors to climate change.
The Least Developed Countries Fund
, under the Global Environment Facility (GEF) since 2001, is for addressing LDCs' most urgent and immediate adaptation needs.
Least Developed Countries Fund
(LDCF) whose resources are accessible only to the 49 least developed countries (LDCs)
for the Operation of the Least Developed Countries Fund
, Decision 27/CP.
The funds are mobilized under the Least Developed Countries Fund
(LDCF) of the GEF.
As a result of a diversified approach to combatting climate change and responding to environment challenges on the continent, the Bank has mobilized funding from three GEF managed trust funds: the GEF Trust Fund, the Least Developed Countries Fund
(LDCF), and the Special Climate Change Fund (SCCF).
For the first time, an international agreement offers the least developed countries funds
to cover some of the loss and damage caused by climate shocks.