Africa: 2024 Climate Action Report – IFAD Expands Its Climate Finance For More Resilient Rural Populations

IFAD has exceeded its funding goals by investing over US$1.28 billion in projects supporting small-scale farmers to adapt to climate change and produce food sustainably for 2022-2024, surpassing the 40% target set. The Climate Action Report 2024 showcases IFAD’s commitment to vulnerable farmers, increasing climate-related spending to 40% from 2022-2024 and planning for 45% from 2025-2027, with US$502.7 million spent in 2022-2023 on adaptation and mitigation projects. Projects in Africa received US$330.4 million, with examples like the Pro-Semi-arid Project in Brazil promoting agrobiodiversity and ecosystem restoration, reaching 75,000 rural families.

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