Supplementary budget to support least developed countries' climate action - Ministry for Foreign Affairs
Supplementary budget to support least developed countries' climate action
Finland aims to grant additional support for climate action in the least developed countries (LDCs) and for the EU Emergency Trust Fund for Africa (EUTF for Africa), which addresses the root causes of irregular migration. The Government's second supplementary budget proposal for this year includes an additional allocation of EUR 4.5 million to development cooperation appropriations.
”The two additional amounts of funding to development policy are small as a whole, but the targets have been very carefully selected. Through the Least Developed Countries Fund (LDCF) we support countries that suffer the most from climate change, while the EUTF for Africa is used as a channel to address the root causes of migration, for example. Both funds' resources are inadequate in relation to their needs, which is why Finland's additional funding will respond to genuine needs,” says Minister for Foreign Trade and Development Anne-Mari Virolainen.
In the supplementary budget, EUR two million is proposed for climate action in the LDCs. The Paris Agreement recognises the special needs of the least developed countries and small island developing States. The poorest countries have caused the least greenhouse emissions but suffer from the impacts of climate change the most severely.
The Least Developed Countries Fund (LDCF), established under the UN Framework Convention on Climate Change in 2001, is a voluntary fund that addresses the LDCs' adaptation to climate change. Finland has supported the LDCF since its establishment by approximately EUR 1.6 million a year. Thanks to the supplementary budget proposal, Finland will be able to support the LDCF again after a few years' interruption. This is in agreement with Finland's goal according to which its climate funding is distributed equally for adaptation to climate change and for its mitigation.
EUR 2.5 million is to be granted to the EUTF for Africa. Finland has supported the fund earlier by a total of EUR five million.
The EUTF for Africa was established at the Valletta Summit on Migration in 2015. It funds projects that address the root causes of irregular migration and forced displacement. Funds are channelled to the Sahel and Lake Chad, the Horn of Africa and North Africa. One of the fund's strengths is agility: it has been able to respond to acute needs related to migration rapidly. Results have been achieved especially in the Sahel and Libya; in the activities of the fund, Finland prioritises the Horn of Africa.
The Government submitted this year's second supplementary budget proposal to Parliament on Thursday 25 October.