Tanzania Needs US$500m Annually to Mitigate Climate Change
A Tanzanian government official said on Friday that the east African nation needed 500 million US dollars annually to adapt and mitigate the impacts of climate change.
Freddy Manyika, a senior environmental officer from the Vice-President’s Office, said the total amount of financial resources needed for implementation of identified climate change adaptation and mitigation projects was about 500 million US dollars a year to 1 billion US dollars.
“These costs are likely to increase further depending on global mitigation efforts. Estimated costs are up to 60 billion US dollars by 2030 in mitigation investments in Tanzania,” said Manyika.
He told a consultative workshop held in the coastal city of Tanga that Tanzania needed about 150 million US dollars as an initial estimate for immediate and start-up financing needs for enhancing adaptive capacity.
Austin Mills