Post COP25 Climate Finance Report - Needs Based Finance for Kenya

NEMA

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Description: The implementation of Need-Based Finance in Kenya, particularly within the framework of the Climate Change Act of 2016, is noteworthy. Section 25 of this act outlines the establishment of the Climate Change Fund, overseen by the National Treasury and Planning. A substantial sum of USD 500 million has been allocated by the National Treasury and Planning to initiate the fund's operations. Currently, the draft memorandum is awaiting co-signing by the Ministry of Environment and Forestry, demonstrating a significant step towards addressing climate change challenges and promoting sustainable development in the country.