By Charles Ogallo in Doha, Qatar.
The time has come for Africa to reap the fruits of Clean Development Mechanism commonly known as CDM under the Kyoto Protocol, an international legally binding agreement.
Among new investment initiatives aimed at tackling climate change as well as reducing greenhouse gases emissions globally , CDM has proved to be helpful in promoting sustainable development among communities facing the extremes of this global phenomenon especially in developing nations.
|Geothermal Power Project in Kenya.|
Addressing a group of African Radio Journalists at the UN Climate Change Conference in Doha Qatar, Mr Conor Barry an expert with the United Nations Framework Convention on Climate Change said the CDM loan scheme was introduced by UNFCCC with an aim of financing CDM projects implementations and will be implemented in partnership with UNEP RISQ Center and UNOPS.
Mr Barry announced that loan worth $3 million have already been approved and that 69% of applications for loans have come from projects in African countries, most (66%) of them were for small scale community friendly projects.
The types of projects include: EE household (lightning) (stoves), EE Service (water purification), Geothermal, Hydro, Landfill gas (Landfill flaring), Methane avoidance (domestic manure) (waste waster), Solar PV and Transport.
|Wind Power Plant At Ngong , Kenya|
These projects are Safe Water Access project in Rwanda, Cable Propelled Transit project in Nigeria, Water Purification project in Tanzania, Biogas production project in Sudan and Waste to energy production project in Kenya.
Africa has 14 percent in regional distribution which is the highest number of applications with Kenya having one one application for Waste handling and disposal project in Nairobi at a cost of US dollars 417, 500, Asia and Middle East 5 percent while Carribean has only one percent.
According to CDM executive Board annual report released a head of the COP18 held in Doha Qatar, these and other initiatives have sought to remove barriers to participation in CDM and have benefited from cooperation with stakeholder groups and partner agencies, under the banner of the Nairobi Framework.