Government is this week set to launch an initiative which will help Small and Medium Enterprises (SMEs) to come up with viable and bankable climate change projects.
Financing climate change projects remains a challenge which requires bankable and viable project proposals, says Green and Environment Minister Collins Nzovu.
Nzovu said at the First National Bank (FNB) Zambia breakfast workshop on Environmental, Social and Governance meeting on Tuesday in Lusaka that financiers needed bankable and viable projects.
He said the initiative to be launched would assist SMEs with easy processes for setting up these projects.
“This is about climate change. We are upgrading our National Determination Contributions soon, I think we should be having a lunch tomorrow. This speaks to all sectors, tourism, agriculture and mining.
“How do we come up with bankable projects which speaks to mitigation, adaptation and to build resilience. How do we make the processes easy, issues of climate finance are difficult issues,” Nzovu said.
Read more: AfCFTA can help Africa reduce climate change risks, says IMF
He also implored the banking sector to assist its clients interested to coming up with climate change projects on the necessary steps needed.
Nzovu emphasised the need for banks to support transition to a sustainable and inclusive economy in wake of devastating effects of climate change.
“Banks needs to help customers as the things you want to finance are new things, they are difficult things so they need your help. Some of the projects coming up are too small to make an impact.
“We want to partner with FNB in a strong way. Climate change is leading to food insecurity. I am sure you saw that our maize was on high demand. We were the only country in the region which was food secure,” Nzovu said.
At the same FNB Head Treasury, Ignatius Kashoka, said the bank would work with the government to create a new and more resilient model that would enable the government to amicably address climate change.
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR!