Tue, 04 Oct 2022

LUSAKA, Sept. 14 (Xinhua) -- The Zambian government said on Wednesday that it has heightened efforts to mobilize financial resources aimed at supporting climate change activities.

John Msimuko, the Permanent Secretary in the Ministry of Green Economy and Environment, said the government was creating a conducive environment aimed at attracting financing from multilateral and bilateral partners as well as the private sector.

He said the government has been working to mobilize climate financing from organizations.

"We have also been closely working with financial institutions to green the sector in order to make more climate financing available to the private sector," he said in a release.

The government, he added, was also working towards putting in place an enabling environment for the private sector to invest in green financing, green growth and climate-related activities.

According to him, innovative financing mechanisms incorporating multilateral, bilateral and private sector partners were key to the success of a green economy.

He further said in view of stiff competition for scarce resources for combating climate change, the government was designing innovative projects and programs with the involvement of local communities and private sector with support from partners.

He noted that the mismatch between the needs and available financing calls for developed countries to enhance the level of financing and for developing countries to strengthen the ability to attract diverse sources of finance to climate investments.

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