At the ongoing climate financing negotiations at COP27, Nigeria has gotten $2.4 million in funding from the Bill and Melinda Gates Foundation. This information was shared by the Minister for the Environment, Mohammed Abdullahi, on Wednesday in Sharm El Sheikh, Egypt, which is the venue of the global conference on climate change. He explained that the commitment was to conduct research and development in the field of soil science as well as to intervene in the field of agroforestry.
He added that when he was with Bill and Melinda Gates Foundation, the foundation had promised the funds to help the country’s agroforestry efforts, as well as our efforts to advance digital technology in the areas of soil research and development, bean cultivation, corn cultivation, and rice cultivation. Their primary goal is to assist smallholder farmers in expanding their soil-related skills and knowledge. This includes both pre-planting soil science and the ability to grow crops.
Nigeria seeks other partnerships to aid improvement.
This particular funding line from Bill and Melinda Gates Foundation is about $2.4 million. He added that they have also discussed the matter with the European Development Bank (EDB). The EDB has expressed an interest in financing some “green” projects in Nigeria, but in order to do so, they require a partner organization located within the nation. According to him, they are maintaining an open channel of communication with the Bank of Industry to determine whether or not they are capable of acting as country agents for the EDB in order to locate those projects and carry them out.
However, Mr. Abdullahi was unable to provide a precise conclusion regarding the entire amount of the commitments that the nation has so far received, as he stated that negotiations were still in progress. They are not able to claim with absolute certainty that there is “x amount of money,” but there’re openings in the situation that they have the potential to take advantage of after the fact. They have initiated a conversation with them at this point.
Agroforestry gives rise to the production of healthy food and vegetation.
The agroforestry models have produced a year-round environment that is conducive to the production of nutritious food and green vegetation that displays a high level of biodiversity. This has been accomplished without the use of any type of inorganic fertilizer, herbicides, or pesticides. This approach has assisted in lowering the detrimental effects of climate change, increasing the production of nutritious food, and enhancing the availability of soil microorganisms on the farm and in the ecosystem surrounding it.
The Food and Agriculture Organization of the United Nations (FAO) defines agroforestry as a dynamic, ecologically based, and natural resource conservation system that uses trees on farmland and in agricultural landscapes to increase social, economic, and environmental benefits for all land users. It is a way to farm that is good for the environment. Farmers grow several crops between trees in a way that doesn’t stop the growth of the other crops. This makes for healthy food production and healthy ecosystems that support carbon sequestration and biodiversity.
The country is progressing in terms of funding opportunities.
Moreover, an organization called “Good Soil DC” based in both the United Kingdom and Ghana, has also committed over $50 million to fund initiatives in the REA (Rural Electrification Agency). To maximize the use of the $50 million, the minister said he had paired REA with Good Soil DC. However, the finding is not intended solely for Nigeria. It’s aimed at developing nations in general, but each country’s share of it will depend on how well it presents a viable green and renewable energy project to the bank. As a whole, the minister expressed optimism that we are making headway in our pursuit of potential funding sources.
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