GCA to Help Tanzania Build Resilience to Climate Change in Collaboration with the IMF
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otterdam, the Netherlands, 21 June 2024 – The Global Center on Adaptation (GCA) is to provide climate adaptation support on a just announced International Monetary Fund (IMF) initiative to help tackle climate change in Tanzania.
This follows an announcement by the IMF on Thursday that its executive board had approved a 23-month arrangement under the Fund’s Resilience and Sustainability Facility of about US$ 786.2 million to support Tanzania’s efforts to build resilience to climate change. The Facility provides affordable long-term financing to countries undertaking reforms to reduce risks to prospective balance of payments stability, including those related to climate change and pandemic preparedness.
GCA worked closely with the IMF on the identification and design of climate adaptation measures for this initiative.
GCA President and Chief Executive Officer Professor Patrick V. Verkooijen said: “We are staunchly committed to supporting Tanzania as it embraces climate adaptation and resilience. We are proud to have Tanzanian President Suluhu Hassan as a member of GCA’s Advisory Board, and one among a growing body of world leaders lending their voices to climate adaptation.”
He added: “This collaboration, underpinned by the IMF’s Resilience and Sustainability Facility, marks a significant step towards safeguarding Tanzania’s environment and communities from the impacts of climate change. It also helps with long-term and sustainable economic development and ensuring that people do not slide back into poverty.”
Tanzania is one of many African countries that GCA is actively supporting in climate adaptation under its Africa Adaptation Accelerated Program, a joint initiative of the Center and the African Development Bank. Tanzania continues to be resilient, even though it has experienced successive extreme weather events in recent times.
Notes to Editors
About the Global Center on Adaptation
The Global Center on Adaptation (GCA) is an international organization that promotes adaptation to the impacts of climate change. It works to climate-proof development by instigating policy reforms and influencing investments made by international financial institutions and the private sector. The goal is to bring climate adaptation to the forefront of the global fight against climate change and ensure that it remains prominent.
Founded in 2018, GCA embodies innovation in its approach to climate adaptation as well as in its physical presence. It operates from the largest floating office in the world, in Rotterdam, the Netherlands. GCA has a worldwide network of regional offices in Abidjan, Côte d’Ivoire; Dhaka, Bangladesh; and Beijing, China. The Center will open a new office in Nairobi, Kenya in 2025.
