Paynesville, Liberia – The World Bank Country Manager for Liberia, officially inaugurated the Climate Integration and Financing Office (CIFO) at the Paynesville Town Hall. This new initiative marks a pivotal step in integrating climate considerations into Liberia’s national development planning and mobilizing resources for climate-resilient projects.
During her opening remarks, Georgia emphasized the importance of the CIFO as a collaborative hub for government ministries, agencies, and development partners. “This office will foster a cohesive approach to combating climate change and promoting sustainable development in Liberia,” she stated, echoing the sentiments of Honorable Madam Brunson, who highlighted the goal of ensuring that “every dollar for climate has maximum impact for the Liberian people and the environment.”
Georgia outlined three key contributions the CIFO will provide: coordination, collaboration for investment, and measurable impact.
Coordination for Climate Goals
The first contribution is the critical role of coordination. The CIFO aims to strengthen links across various sectors and enhance policy frameworks to support climate change adaptation and mitigation. Georgia referenced the Liberia Country Climate and Development Report (CCDR), launched earlier this year, which underscored the necessity for a comprehensive policy framework to integrate climate finance effectively. “Today’s launch is a vital step towards realizing a Government-led, integrated approach to climate finance,” she noted.
Collaboration to Scale Investment
The second contribution focuses on collaboration to achieve scaled investments. According to a recent assessment by the Climate Policy Initiative, Liberia’s average annual climate finance flows stood at approximately US$112 million in 2019/20, primarily in the form of grants and low-cost project debt. However, the estimated cost for fully implementing Liberia’s climate mitigation and adaptation actions through 2025 is a staggering US$491 million. Georgia stressed the need for innovative approaches to unlock private finance, particularly from the carbon market, to support infrastructure projects and enhance resilience.
Impact Through Global ExperienceLastly, Georgia highlighted the importance of learning from global experiences to maximize impact. She pointed to successful examples from countries like Uganda, where climate budget tagging has enabled the government to track climate-related expenditures effectively. “This process ensures that resources are allocated to areas with the highest climate impact, aligning expenditures with national climate goals,” she explained.
In her closing remarks, Georgia reaffirmed that climate change is a central pillar of Liberia’s ARREST Agenda for Inclusive Development, reflecting the government’s commitment to reducing greenhouse gas emissions and enhancing climate resilience. She commended the strong ownership demonstrated by the Government of Liberia in driving this agenda, stating that such leadership will position Liberia as a frontrunner in aligning climate action with development objectives.
The launch of the Climate Integration and Financing Office is expected to catalyze partnerships essential for achieving Liberia’s climate goals, paving the way for a more sustainable future for the nation and its people.
