Tonga’s first Climate Change Trust Fund launched [1]
Friday, February 24, 2017 - 20:47. Updated on Saturday, April 8, 2017 - 14:03.
The first Climate Change Trust Fund aimed at financing small climate change resilience projects in Tonga and supported by the Asian Development Bank (ADB) and the Government of Tonga was launched today.
The fund will finance small, community-based climate adaptation and mitigation projects and fund the climate component of non-community based projects.
Small-scale community based climate-related projects proposed by other organizations such as church groups, charities and non-government organizations will also be provided with supplementary finance.
Deputy Prime Minister Siaosi Sovaleni said at the launch that the Climate Change Trust Fund would improve capacity for climate actions throughout Tonga as a sustainable funding mechanism.
“Through the trust fund youth, women’s groups, church groups and others may contribute to strengthening Tonga’s climate resilience.”
ADB Senior Country Coordinator, Tatau Moeaki said “ADB is pleased to be able to support Government roll out its first climate trust fund to mainstream climate investments to include key vulnerable sectors to build a more resilient Tonga”.
The launch was attended by Deputy Prime Minister Siaosi Sovaleni, Lu’isa Director of Climate Change, Tu’iafitu Malolo, Climate Change Trust Fund Coordinator, Feleti Fa’otusia, and ADB Senior Country Coordinator, Tatafu Moeaki.
The $5million Climate Change Trust Fund falls under the Tonga Climate Resilience Project, financed by a $19.25 million grant from the ADB Strategic Climate Fund with the Government of Tonga contributing $2.45million to it.