Climate finance gap, 93% - Adaptation plan 9.8 billion USD, Jaupaj: Finding financing is a challenge
Our country faces a huge financial gap in coping with the effects of climate change. According to the National Plan for Adaptation to Climate Change 2026–2036, the country has secured only 7% of the necessary funds for adaptation measures, while the gap reaches 93%, making this one of the biggest financial challenges of the next decade. Minister of Environment Sofjan Jaupaj spoke about the challenges of finding the necessary financing, which were also presented at the “United for Climate” Conference, held in Tirana.
"The financial value of the entire National Climate Change Plan of Albania is worth 9.8 billion USD. However, in the calculations we have made, it certainly turns out that there is a 93% gap in terms of financing. State funding for the environment is increasing every year, however, it is insufficient. And for this reason, these measures were presented to all international partners, starting with the European Commission and then the various organizations that offer grants or even loans, so that we can then make a financing plan for the implementation of these measures over a 10-year period," said Jaupaj.
Jaupaj also spoke about one of the projects that is expected to begin soon, regarding the hydrometeorological system, which currently presents numerous problems, but is essential in terms of climate change.
"In this context, we have created an alliance with Swiss-Meteo, which is the Swiss operator of hydrometeorology, so that we can carry out a complete reform of this entire institutional organization, but also investments in the field that will serve to increase the number of stations, create an accurate center for the hydrometeorological system and provide timely forecasts for all weather problems that, due to climate change, are becoming more frequent every day, such as summer fires or winter floods," said Jaupaj.
In parallel, the minister announced the receipt of a grant of 50 million USD, which will be approved by the Global Climate Green Fund, for the forestry sector, regarding the expansion of nurseries and the reforestation of areas that are degraded due to fires, but also capacity building.
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