PKSF gets $80m of Green Climate Fund

The Green Climate Fund (GCF) has approved two project proposals of Palli Karma-Sahayak Foundation (PKSF) involving $80 million to combat the adverse impacts of climate change. 

In a meeting in South Korea yesterday, the GCF board approved a $50 million allocation for a "Resilient Homestead and Livelihood Support to the Vulnerable Coastal People of Bangladesh" project, says a press release.

The five-year project will finance the development of climate-resilient housing and salinity-resilient livelihood technologies while raising awareness about the impacts of climate change among over 3,62,475 vulnerable people in seven coastal districts.

The remaining $30 million will be provided for an "Extended Community Climate Change Project-Drought" project to increase the resilience of people living in drought-prone areas.

The four-year project will assist in installing water infrastructure, re-excavating existing ponds and canals, following drought-adaptive cropping patterns and planting drought-tolerant crop varieties, directly benefiting over 2,15,000 people in three drought-prone northwestern districts.

The GCF was established by 194 countries party to the UN Framework Convention on Climate Change in 2010. It allocates its resources to low-emission and climate-resilient projects and programmes in developing countries.

The PKSF earlier implemented two projects financed by the GCF.