Ghana seeks US$22.6bn to tackle climate challenges

Ghana is staring down a climate financing gap of staggering proportions, with the government estimating it needs approximately US$22.6 billion to adequately address the mounting threats posed by climate change, a sum the country openly admits it cannot raise on its own.

Minister of State in charge of Climate Change, Seidu Issifu, made the disclosure on Wednesday, April 6, during the government’s accountability series, painting a candid picture of the scale of resources required to meaningfully tackle the country’s climate challenges.

“We cannot do it alone. Ghana requires about US$22.6 billion to take care of our climate needs,” the Minister stated plainly.

With domestic mobilisation of such funds out of reach, Mr Issifu said the government’s strategy hinges on forging robust partnerships with international actors. He revealed that he is actively engaging stakeholders to close the financing gap, with the European Union emerging as a key partner in those conversations.

“US$22.6 billion, we cannot raise it by ourselves. We need strategic partners to be able to do that, and I work closely with the EU. These are things that we share with them, and that is how we can contribute to the bucket to assist the government in raising climate funding to prosecute these development agendas,” he noted.

The Minister’s remarks underscore a reality facing many developing nations, that ambitions around climate resilience far outpace what national budgets alone can sustain. For Ghana, the path forward, according to Mr Issifu, runs squarely through sustained international cooperation and external financial backing, without which the country’s climate agenda risks stalling before it gains meaningful ground.

Source: myjoyonline.com