Connect with us

Latest News

UN moves to unlock stuck climate financing for Afghanistan

If successful, this would be the first time new international climate finance would flow into the arid, mountainous nation in three years.

Published

on

United Nations agencies are trying to unlock key climate financing for Afghanistan, one of the world’s most vulnerable countries to climate change which has not received approval for any fresh such funds since the 2021 Islamic Emirate takeover, Reuters reported citing two U.N. officials.

Plagued by drought and deadly floods, Afghanistan has been unable to access U.N. climate funds due to political and procedural issues since the IEA came to power.

But with the population growing more desperate as climate woes stack up, U.N. agencies are hoping to unseal project financing for the fragile country to boost its resilience.

If successful, this would be the first time new international climate finance would flow into the arid, mountainous nation in three years.

“There are no climate sceptics in Afghanistan,” said Dick Trenchard, U.N. Food and Agriculture Organization (FAO) country director for Afghanistan. “You see the impact of climate change and its environmental effects everywhere you go.”

Two U.N. agencies are currently drawing together proposals they hope to submit next year to shore up nearly $19 million in financing from the U.N’s Global Environment Facility (GEF), part of the financial mechanism of the 2015 U.N. Paris Agreement on climate change.

These include the FAO, which hopes to get support for a project costing $10 million that would improve rangeland, forest and watershed management across up to four provinces in Afghanistan, while avoiding giving money directly to IEA authorities.

The U.N. Development Programme, meanwhile, hopes to secure $8.9 million to improve the resilience of rural communities where livelihoods are threatened by increasingly erratic weather patterns, the agency told Reuters. If that goes ahead, it plans to seek another $20 million project.

“We’re in conversations with the GEF, the Green Climate Fund, the Adaptation Fund – all these major climate financing bodies – to reopen the pipeline and get resources into the country, again, bypassing the de facto authorities,” said Stephen Rodriques, UNDP resident representative for Afghanistan.

National governments often work alongside accredited agencies to implement projects that have received U.N. climate funds. But because the IEA government is not recognised by U.N. member states, U.N. agencies would both make the request and serve as the on-the-ground partner to carry out the project.

FLOODS, DROUGHT

“If one of the countries most impacted by climate change in the world cannot have access to (international climate funds), it means something isn’t working,” Rodriques said, adding that any funds should come alongside continued dialogue on human and women’s rights.

Flash floods have killed hundreds in Afghanistan this year, and the heavily agriculture-dependent country suffered through one of the worst droughts in decades that ended last year. Many subsistence farmers, who make up much of the population, face deepening food insecurity in one of the world’s poorest countries.

The FAO and UNDP will need to receive initial approvals by the GEF secretariat before they can submit their full proposals for a final decision from the GEF Council, which comprises representatives from 32 member states.

If the agencies get that first green light, Trenchard said, they would aim to submit their proposals in early 2025.

We “are awaiting guidance as to whether it would be possible to proceed,” Trenchard said.

No foreign capital has formally recognised the IEA government, and many of its members are subject to sanctions. The United States has frozen billions in central bank funds since the IEA took over and imposed restrictions on education of girls and women.

Many human rights activists have condemned the IEA’s policies and some have questioned whether interaction with the IEA and funnelling funds into the country could undermine foreign governments’ calls for a reversal on women’s rights restrictions.

The IEA says it respects women’s rights in accordance with Sharia law.

Countries mired in conflict and its aftermath say they have struggled to access private investment, as they are seen as too risky. That means U.N. funds are even more critical to their populations, many of whom have been displaced by war and weather.

IEA members are attending the ongoing annual U.N. climate negotiations COP29 in Baku, Azerbaijan as observers for the first time.

The IEA’s presence could build trust between Afghanistan and international donors, said Abdulhadi Achakzai, founder of the Afghanistan climate nonprofit Environmental Protection Trainings and Development Organization, on the sidelines of COP29.

“It will be a safer world for the future to include Afghanistan officially in the agenda,” he said. “We see this is an opportunity. There are funds for Afghanistan, we just need to secure it.”

Latest News

Doha process private sector meeting highlights growth and coordination in Afghanistan

The session was divided into two segments, focusing on growth and inclusion in the first part, and coordination and transparency in the second.

Published

on

The 3rd session of the Doha Process Private Sector Working Group was held both in-person and online at Kabul’s Grand Hotel, hosted by the United Nations Assistance Mission in Afghanistan (UNAMA).

The meeting brought together representatives from the Islamic Emirate of Afghanistan, including the Ministries of Foreign Affairs, Finance, Industry and Commerce, Economy, Labor and Social Affairs, and the Central Bank, alongside UNAMA, UN agencies, international and regional organizations, as well as ambassadors, diplomats, and private sector experts.

The session was divided into two segments, focusing on growth and inclusion in the first part, and coordination and transparency in the second.

Afghanistan’s Islamic Emirate representatives shared achievements and progress since assuming governance, while participants acknowledged these efforts and highlighted their ongoing support for the private sector. All parties offered recommendations to address challenges and emphasized enhanced cooperation moving forward.

Continue Reading

International Sports

IPL 2026: Franchise sales gather pace as global investors circle teams

Royal Challengers Bengaluru (RCB) has been put on the market by its current owner and is estimated to be worth up to $2 billion.

Published

on

Developments off the field are drawing growing attention ahead of the 2026 Indian Premier League season, with two franchises — Royal Challengers Bengaluru and Rajasthan Royals — formally up for sale and attracting interest from high-profile domestic and international investors.

Royal Challengers Bengaluru (RCB), one of the league’s most recognisable teams, has been put on the market by its current owner, Diageo’s United Spirits Ltd, following a strategic review. The sale process is expected to be completed by the end of March 2026. Market estimates suggest the franchise could be valued at around $2 billion, reflecting the soaring commercial value of the IPL.

Several bidders have been shortlisted for RCB, including investment groups led by Indian industrialists, private equity firms and overseas sports owners. Among those reported to have shown interest is a consortium linked to the Glazer family, co-owners of English Premier League club Manchester United. Non-binding bids have already been submitted, with binding offers expected in the coming weeks.

Rajasthan Royals (RR), winners of the inaugural IPL title in 2008, are also in the process of being sold. A shortlist of potential buyers has been finalised, featuring a mix of Indian and international investors, including private equity firms, entrepreneurs and media-linked groups. The franchise is expected to attract a valuation of more than $1 billion, according to market estimates.

Final bids for Rajasthan Royals are anticipated in early March, while the RCB transaction is expected to move into its final phase later this month. Any change in ownership will require approval from the Board of Control for Cricket in India (BCCI).

The potential sales mark one of the most significant ownership shake-ups in IPL history and underline the league’s growing appeal as a global sports investment as preparations continue for the 2026 season.

Continue Reading

Latest News

FM Muttaqi meets Uzbek Central Asia Institute Chief, stresses stronger bilateral cooperation

During the meeting, the two sides discussed ways to further strengthen political and economic cooperation, as well as key regional issues.

Published

on

Afghanistan’s Minister of Foreign Affairs, Amir Khan Muttaqi, has met with a delegation led by Joulan Vakhabov, head of Uzbekistan’s International Institute of Central Asia and adviser to the country’s deputy president.

During the meeting, the two sides discussed ways to further strengthen political and economic cooperation, as well as key regional issues.

Muttaqi said Uzbekistan has adopted a positive and goodwill-based policy toward Afghanistan, expressing hope that bilateral relations and cooperation would continue to expand.

He also underscored the important role of research institutions in promoting mutual understanding, enhancing cooperation, and developing a realistic assessment of regional dynamics.

For his part, Vakhabov praised the progress and stability in Afghanistan and voiced optimism that trade between the two countries would increase further in the current year.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2025 Ariana News. All rights reserved!