IFAD announces second phase of its flagship climate change adaptation fund

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IFAD announces second phase of its flagship climate change adaptation fund

The second phase of IFAD's Adaptation for Smallholder Agriculture Programme (ASAP) will run until 2025 and benefit 10 million smallholder farmers

Rome, 21 December 2017 -

The International Fund for Agricultural Development (IFAD) is pleased to announce the second phase of the Adaptation for Smallholder Agriculture Programme (ASAP), the largest global financing source dedicated to supporting the adaptation of poor smallholder farmers to climate change.

During the first phase of ASAP, from 2012 to 2017, IFAD programmed US$305 million in ASAP grants in 41 countries, expecting to reach more than 5 million vulnerable smallholders to cope with the impacts of climate change and build more resilient livelihoods. ASAP has substantively enhanced climate risk mainstreaming in IFAD’s investment processes, and promoted innovative tools and technologies that smallholders are using to protect their assets from greater climate variability.

ASAP2 has been generously financed by the Norwegian Agency for Development Cooperation (NORAD), which has agreed to contribute NOK80 million – equivalent to about US $9.5 million – to the ASAP Trust Fund, and the Swedish International Development Agency (SIDA), with a contribution of SEK60million – equivalent to US $5.9 million.

The ASAP2 instrument will enable climate mainstreaming through technical assistance and capacity building in cooperation with national ministries, research institutes, farmers’ organizations and civil society, and leverage IFAD investments to incentivize additional co-financing for climate change adaptation.

The Contribution Agreements of both Nordic nations follows from their strong support during the first phase of ASAP. The renewed commitments will go toward addressing the additional costs of climate change in IFAD’s investment programmes, and contribute to specific elements of the Sustainable Development Goals, as set out in the results framework of the agreements. IFAD values the confidence that Norway and Sweden have shown in the Fund’s ability to carry out operations on behalf of smallholder farmers.

The overall target for the ASAP2 Trust Fund is US$100 million.