OPEC Fund Quarterly - 2023 Q2

IFAD's approach is to promote stability, build resilience and support sustainable rural development

in 40 years while Somalia was hit by a fifth consecutive failed rainy season. Climate shocks are

finalizing designs to unlock US$41.9 million of donor co- financing through the Adaptive

which will go directly into livelihood and food security projects that will help build resilience of communities against famine and climate shocks. They will improve the availability of water for irrigation and livestock, including building sand dams to enable farming throughout the year. And they will empower rural women and communities by improving access to rural finance.

Agriculture and Rangeland Rehabilitation Project, which aims to enhance the resilience of poor households through sustainable natural resources management. This is in addition to potentially mobilizing millions of dollars of funds

becoming more aggressive and droughts which used to happen once a decade now occur every two years. Considering the relationship of fragility with climate change, we find that investments in climate resilience have often played a crucial role in building resilience beyond climate shocks. In particular, investing in climate-resilient agriculture and natural resource management can lead to greater stability and peace by reducing the risk of conflict over limited natural resources. To ensure that the rural people get the support they need, we should start by unlocking more finance and investments in agriculture and food systems – because it decreases poverty 2-3 times more than any other sector. In addition, reshaping food systems could limit global warming and help regenerate natural ecosystems. Somalia is a good example of how partnerships and international cooperation can create solutions, especially where the needs are greatest. Last February, the Heavily Indebted Poor Countries (HIPC) Debt Relief Trust Fund and the governments of Belgium, Germany, Italy and Sweden worked together with IFAD to solve an issue of debt arrears that had limited the scale of IFAD’s work in Somalia. Now, IFAD and the government of Somalia are

RELAP IN PALESTINE

The Resilient Land and Resource Management Project (RELAP) supports the acceleration of economic growth in rural areas of Palestine’s West Bank by expanding the area under cultivation and increasing the productivity and profitability of rural production, as well as expanding marketing opportunities for smallholders and landless rural poor people. The project improves livelihoods and increases climate resilience by fostering adaptive agricultural practices and enhanced governance and management of land and water. It supports climate-resilient land development, investments in agricultural roads and market links, soil improvement and rainwater-harvesting facilities.

It supports the aggregation of agricultural products at village level by creating climate-resilient, income-generating activities and entrepreneurial opportunities on and off the farm. To date, more than 2,500 Palestinians benefitted from the project including 1,280 females and 1,100 youth.

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