Kenya receives more IMF loans to fight climate change
Kenya is posed to receive an additional 500 million US dollars (about Sh69 million) from the International Monetary Fund (IMF) through its the resilience and sustainability facility to support climate change mitigation and adoption efforts.
National Treasury Principal Secretary Dr Chris Kiptoo also revealed the government was engaging with development partners to mobilize resources to support mitigation and building resilience.
“At National Treasury, we are now going to push for unlocking climate finance. We have to green our budget and we have other sources of finance like the Green fund and other bilateral and multilateral sources,” said Dr Kiptoo.
The loans from IMF appear to contradict President William Ruto’s stance, as he had promised not to borrow upon assuming power after criticizing his predecessor Uhuru Kenyatta of extensive borrowing.
PS Kiptoo made the remarks when he presided over the launch of ‘Keep Kenya breathing again’ campaign in partnership with WWF-Kenya by planting trees at Kessup forest, Elgeyo Marakwet on Saturday.
Kenya has been worst hit by climate change as the country has witnessed unpredictable rains which impact negatively on food security.
He was accompanied by, his road counterpart Joseph Mbugua and Eleyo Marakwet governor Wisely Rotich.
Ps Kiptoo also urged counties to mainstream climate action in their budgets to spearhead the efforts to tackle effects of climate change.
Last year, Kenya presented a submission under Paris agreement the National determined contribution to reduce gas emissions by 32 per cent with an ambitious budget of Sh6.2trillion for 10 years to support mitigation and adoption of climate change, said the PS.
The Keep Kenya Breathing campaign is a rallying call for individual Kenyans and the private sector to take personal responsibility to plant 1 billion trees and rehabilitation of Kenya’s degraded lands and forest ecosystems.
The restoration of Kaptagat landscape was initiated by the PS Kiptoo in 2017 and has grown into a tree growing movement that has now restored over 400 hectares.
He explained that Kenya ratified Glasgow declaration that decreed members to ensure no further land degradation as result of deforestation.
“The declaration calls on us to ensure there are no more settlements in forests and reclaim as much as possible the depleted forest resources,” said Dr Kiptoo.
Since the launch of the campaign in 2018, WWF-Kenya has planted and mapped over 2,235,791 tree seedlings in at least 25 counties. WWF-Kenya has also partnered with schools, planting over 100,000 tree seedlings.
“Nature pays. Restoring nature pays even more. It puts more money in the pockets of the people in many direct and indirect ways. Restoring nature gives us a healthy environment for this generation and the next,” said Mohamed Awer, the Chief Executive Officer, WWF-Kenya.
He said that the ‘keep Kenya breathing’ initiative calls on Kenyans to plant and grow at least 25 tree seedlings, per family, per year until 2030.
Over the last three years, WWF-Kenya has contributed significantly to the restoration of 700 hectares in the forest and farmlands by partnering with the Kenya Forest Service and the local Community Forest Associations.
Through the UK PACT-funded Greening Kaptagat project, more than 5,000 benefited through various aspects of the 1-year initiative. In the Kapkoi-Kibogy area, 800 people were connected to clean household water through a solar-powered water tank project designed to save one of the key springs.