Plans for Mangroves Reforestation in Money River Underway

Christopher Coye

Established in 2001, the Adaptation Fund initiated project funding in 2009, concentrating on climate adaptation efforts. It extends eligibility for funding to all developing nations and introduced the pioneering concept of direct access, enabling institutions in developing countries to receive funding without intermediary involvement. Although it accepts pledges continuously, major commitments typically occur during Conference of the Parties (COP) sessions. And during COP28 in Dubai, Belize managed to gain access to forty million Belize dollars. Minister of State in the Ministry of Finance Christopher Coye told News Five that the monies will be used for mangrove reforestation in Monkey River Village.

Christopher Coye, Minister of State in the Ministry of Finance

“Under that country cap we’ve reached forty million Belize dollars, twenty million US dollars. That does not include what we can access through the Adaption Fund regionally, Belize participating regional projects. So, besides that forty million we also have a further eight million that we will see be utilize for the Monkey River mangrove reforestation project. So, there is quite a bit of funds through the Adaption Fund that we have now identified that could be used as grant monies to support climate adaption measures. In the case of a further five million for rural communities and improvement of livelihoods for rural communities, five million US. That is another ten million grant funding. That will go through PACT. So, that’s how the Adaption Fund releases their funds to these implementing agencies and then implementing agencies then disburse those purpose for those specific projects.”