Accra: The Climate Vulnerable Forum and V20 Finance Ministers (CVF-V20), in collaboration with the Government of Ghana, has unveiled the Akosombo Loss and Damage Funding Program (AkoLAD). This initiative, spearheaded by the Office of the Minister of State for Climate Change and Sustainability, aims to support communities impacted by climate-induced flooding while bolstering their long-term resilience.
According to Ghana News Agency, the program is a component of the broader V20 Loss and Damage Funding Programme and is financially supported by the Global Shield Financing Window of the CVF-V20 Joint Multi-Donor Fund (JMDF) with a contribution from the Government of Wallonia. Implementation is in partnership with CARE Denmark and local partners.
In a statement by the CVF-V20 Secretariat, Mr. Issifu Seidu, the Minister of State for Climate Change and Sustainability, emphasized that the program's launch signifies a commitment to support frontline communities who face the challenges of a crisis they did not cause. The program is not just about recovery, but about delivering climate justice and building a stronger, climate-smart infrastructure.
The Minister expressed gratitude towards the Government of Wallonia for their support in this essential initiative. His Excellency Mohamed Nasheed, the Secretary-General of CVF-V20, highlighted that the Akosombo Dam spillage underscored the increasing climate pressures on infrastructure and communities, necessitating urgent risk management and adaptation measures.
Nasheed further stated that AkoLAD is a one-year initiative focused on restoring community capacity to withstand future climate impacts. It emphasizes locally-led, climate-resilient rebuilding, aligning with CVF-V20 priorities of accelerating adaptation, strengthening systems resilience, and ensuring rapid and transparent financial support to affected populations.
A sum of USD one million has been allocated from the CVF-V20 Joint Multi-Donor Fund for AkoLAD, with contributions from the Government of Wallonia. The fund, managed by the CVF-V20 Secretariat and the United Nations Office for Project Services (UNOPS), aims to advance climate prosperity, promote cooperation among Southern nations, and enhance action on adaptation, mitigation, resilience, and loss and damage.
Expected outcomes of AkoLAD include the restoration of physical and livelihood assets, community infrastructure, and increased resilience to future flooding. Ghana, a former chair of CVF-V20, is part of a grouping that today encompasses 74 member countries representing 1.81 billion people. The CVF was established in 2009, followed by the V20 Group of Finance Ministers in 2015.