Government today said the National Bank for Agriculture and Rural Development (NABARD) has been accredited by the Green Climate Fund as an implementing entity for undertaking climate change related projects in India.
The Green Climate Fund (GCF) was set up under the framework of the United Nations Framework Convention on Climate Change (UNFCCC) in 2010 to help developing countries finance clean energy, other mitigation efforts and adaptation to climate change.
"NABARD has been accredited by GCF as national implementing entity (NIE) for undertaking climate change adaptation and mitigation projects from India," Minister of State for Agriculture Mohanbhai Kundaria said in a written reply to the Lok Sabha.
NABARD is the only NIE in the country, at present, for undertaking climate change projects. "The fund assistance will be in the form of concessional loan, grant and through other modalities, instrument or facilities as may be approved by the GCF Board," he said.
Asked if NABARD has submitted any proposal to GCF for financial support, the Minister said that the bank has submitted a concept note on 'Mitigating climate change and enhancing adaption for farmers through agro-forestry in Haryana' prepared by the Haryana government.
The project envisages to lower ground water table (where there has been water logging on account of excess canal irrigation) and mitigate climate change by sequestering carbon dioxide from atmosphere and improve secondary salinisation of soils, thereby improving productivity of lands, he said.
The project plans to cover an area of 30,000 hectare under the agro-forestry plantation of fast growing canal eucalyptus species, he added.
Scaling up climate finance, including effective leverage of the GCF, is an essential component of a new global climate pace to be reached in the forthcoming meeting in Paris in December 2015.
