Accra, March 1 – In a significant move to combat the impacts of climate change, the Climate Vulnerable Forum and V20 Finance Ministers (CVF-V20), in collaboration with the Government of Ghana, have unveiled the Akosombo Loss and Damage Funding Program (AkoLAD). This initiative aims to aid communities that have suffered from climate-triggered flooding while bolstering their long-term resilience.
A key component of the broader V20 Loss and Damage Funding Program, AkoLAD is financed through the Global Shield Financing Window associated with the CVF-V20 Joint Multi-Donor Fund (JMDF), which also includes support from the Government of Wallonia. Implementation of the program is in partnership with CARE Denmark and local agencies.
Issuing a statement on the launch, Mr. Issifu Seidu, Ghana’s Minister of State for Climate Change and Sustainability, emphasized the importance of this initiative, declaring it a commitment to ensuring that vulnerable communities are not abandoned in facing the repercussions of a crisis they did not instigate. “This program transforms the painful lessons learned from the 2023 dam spillage into a roadmap for enhancing resilience,” he stated.
Seidu articulated that the initiative transcends mere recovery efforts; it embodies a pursuit of climate justice, empowering affected communities to rebuild not only what was lost but also to establish more resilient and climate-conscious infrastructure.
His Excellency Mohamed Nasheed, CVF-V20 Secretary-General, underscored the urgency of addressing the challenges posed by climate change, particularly following the Akosombo Dam spillage which exposed vulnerabilities in infrastructure and communities. “Through AkoLAD, we reaffirm our commitment to aid those most affected, ensuring that recovery efforts lead to sustainable livelihoods and enhanced resilience,” he remarked.
Nasheed, who has previously served as the President of the Maldives, noted that AkoLAD is set to operate over the course of one year, focusing on restoring community assets and enhancing their capacity to endure future climate-related challenges. He highlighted the program’s alignment with CVF-V20’s goals of promoting locally-led, climate-resilient rebuilding efforts.
A budget of USD one million has been earmarked for this initiative, bolstered by funding from the Government of Wallonia. Managed collaboratively by the CVF-V20 Secretariat and the United Nations Office for Project Services (UNOPS), the fund aims to foster climate prosperity and enhance South-South cooperation.
Expected results from the AkoLAD program include the restoration of essential community infrastructure, recovery of livelihoods, and improved resilience to future flooding events. Ghana, which previously held the chair position of the CVF-V20, is part of a network of 74 member countries, representing a collective population of 1.81 billion individuals. The CVF was established in 2009, and it launched the V20 Group of Finance Ministers in 2015.
