The Government has established the National Adaptation Fund on Climate Change (NAFCC) with a budget provision of Rs. 350 Crores for the year 2015-16 and 2016-17, with an estimated requirement of Rs. 181.5 Crores for financial year 2017-18, said the minister.
The National Bank for Agriculture and Rural Development (NABARD) has been appointed as National Implementing Entity (NIE) under the NAFCC. NABARD has been accredited by Green Climate Fund (GCF) Board as one of the National Implementing Entity (NIE) for GCF in India.
NABARD as one of the NIEs of the Green Climate Fund is responsible for management and oversight of project implementation, which includes the origination and preparation of a funding proposal, the subsequent management of the necessary stages of the implementation process until its conclusion (project management) on behalf of GCF.
Other institutions meeting the GCF requirements and standards have also applied for accreditation as NIE for GCF in India, said Minister of State (Independent Charge) of Environment, Forest and Climate Change Prakash Javadekar in Lok Sabha on Tuesday.