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News: The Climate Investment Funds has raised $100 million in funding from Germany and Spain for ARISE program designed to help poor countries withstand the fallout from climate change.
About ARISE Program
- Full Form: ARISE – Accelerating Resilience Investments and innovations for Sustainable Economies
- It is a new program designed to help poor countries withstand the fallout from climate change.
- Launched by: Climate Investment Funds (CIF – a multilateral climate finance mechanism housed within the World Bank)
- Aim: It aims to help developing countries “turn climate risk into opportunity” and to strengthen the “adaptive capacity” of economies.
- Purpose: It will work to embed resilience within economic development strategies, unlock new sources of finance and mobilize investment from multilateral development banks, climate funds and private sector.
- Funding and global support
- Germany and Spain have pledged an initial $100 million at COP30 in Belém, Brazil, with calls for further global investment and expansion.
- ARISE prioritizes Least Developed Countries (LDCs) and Small Island Developing States (SIDS), channeling support to the most vulnerable economies.
