The Climate Investment Funds (CIF) has announced that Germany and Spain have committed $100 million in initial funding to support its Accelerating Resilience Investments and Innovations for Sustainable Economies (ARISE) programme.
The pledge was announced at an event at COP30 led by Inter-American Development Bank (IDB) president Ilan Goldfajn, with German’s Federal Minister for Economic Cooperation and Development, Reem Alabali Radovan announcing a €55 million ($63.25 million) commitment and Carlos Cuerpo Caballero, Spain’s Minister of Finance, pledging more than over €32 million ($36.8 million).
The ARISE programme seeks to assist developing countries in turning climate risk into opportunity by strengthening their adaptation capabilities. The programme draws on CIF‘s partnership model with six multilateral development banks to mobilise high co-financing.
The need for resilience
“The data is now unequivocal – resilience pays,” commented Tariye Gbadegesin, CEO, Climate Investment Funds. “Resilient supply chains, roads, power systems and livelihoods can transform not just communities but whole economies. It’s an opportunity too large to ignore, and it demands a new kind of response.
“That’s why we created ARISE – to turn climate risk into economic opportunity by helping countries fortify key sectors against future shocks. We are deeply grateful to Germany and Spain for their leadership and early support, and we urge the global community to join us in accelerating the launch of this vital new source of climate finance.”
The ARISE programme will spearhead resilience planning across sectors such as agriculture, water, energy, transport, and industry, through a systems-based approach and engagement with local communities. Vulnerable nations, such as Least Developed Countries (LDCs) and Small Island Developing States (SIDS) will be prioritised.
‘A symbol of multilateralism’
“The Climate Investment Funds are a key partner for us,” said German Minister Alabali Radovan. “Germany will remain a strong and reliable partner, so that we can kickstart the new ARISE programme to deliver measurable improvements in resilience, particularly in terms of lives saved and livelihoods protected.
“Let us make ARISE a symbol of what multilateralism can achieve. Of what can be done when innovation, finance and the willingness to cooperate come together.”
Since 2008, CIF has invested more than $1 billion, supporting climate resilience projects in more than 30 countries, which have benefited some 65 million people. Read more here.
