Eritrea launched a new strategy on May 22 to finance sustainable land and natural resource management, which promises to significantly boost investments.
The Integrated Financing Strategy (IFS), the result of a long-term collaborative effort of the Government of Eritrea and the Global Mechanism (GM) of the UN Convention to Combat Desertification. The IFS contains investment priorities, in the form of concrete projects promoting renewable energy and land use practices which will contribute to the sustainable use of natural resources in Eritrea. Some of these activities are already underway in the country the IFS now brings forward the recommendation to scale-up such activities using the sources and mechanisms identified.
“Eritrea decided to adopt the IFS to ensure an efficient use of the financial resources already available and to increase investments in sustainable land management compatible activities.” says Siv Øystese, Coordinator of the Economic Instruments and Innovative Finance Program of the GM.
Make sure you visit and click ‘Like’ on our Facebook page to receive even more news and updates from Alternative Energy Africa.