Mogadishu, Somalia — On Wednesday, Somalia marked a significant milestone in its climate resilience journey as the Federal Minister of Finance, Bihi Egeh, chaired the inaugural High-Level Steering Committee meeting of the National Climate Fund (NCF).

This meeting marked the official unveiling of Somalia’s new Climate Finance Architecture, which aims to streamline access to climate finance and foster the development of bankable climate projects.

Held in Mogadishu, the session brought together government officials, development partners, and climate finance experts to discuss strategies for improving climate finance access. Egeh stressed the importance of aligning investments with national priorities to address the country’s escalating climate challenges.

“Our aim is to ensure Somalia is positioned to effectively tap into global climate finance opportunities while addressing urgent climate impacts,” said Egeh during the meeting.

Furthermore, he highlighted that the new architecture would serve as a centralized mechanism for managing climate funds and boosting project implementation across sectors such as water, agriculture, energy, and disaster risk reduction.

The discussions focused on establishing a governance framework for the NCF, ensuring transparency, and developing a robust pipeline of climate projects that are both bankable and aligned with national climate goals.

Participants also agreed on the need to accelerate technical assistance to enhance Somalia’s readiness for accessing international climate financing instruments such as the Green Climate Fund (GCF) and the Global Environment Facility (GEF).

The launch of the new Climate Finance Architecture comes at a time when Somalia faces increasing threats from climate change, including recurrent droughts, flooding, and desertification, which have profound effects on livelihoods and national stability.

The successful launch of the NCF marks a pivotal moment in Somalia’s climate finance strategy, setting the stage for more effective mobilization and management of resources to combat climate-related risks.