ACCRA: Ghana has inaugurated a Climate Financing Division within its Finance Ministry to bolster efforts in securing financial resources for climate mitigation and adaptation projects. The initiative aims to address a significant $15 billion financing shortfall and ensure that funds are used to harmonize economic management with ecological preservation. According to Ghana News Agency, the Climate Financing Division was launched over the weekend as a strategic move to centralize and enhance the country's climate finance initiatives. Dr. Mohammed Amin Adam, the Finance Minister, highlighted the division's role in attracting international funding and facilitating partnerships with both domestic and external private sector investors to advance green growth. He emphasized the importance of innovative financing mechanisms amid global economic challenges to meet Ghana's climate action goals, which require an estimated $9.3 to $15.5 billion over the next decade. The Minister outlined a multi-pronged approach to sec uring climate financing, including fostering government-to-government import agreements, optimizing export credit avenues, catalyzing concessional financing for renewable energy projects, and exploring climate debt swaps. Dr. Amin Adam expressed confidence that these efforts would help Ghana build a resilient ecosystem and establish itself as a climate financing hub in Africa. Ms. Eva Mends, Chief Director at the Ministry of Finance, noted that the new division would mobilize essential financial resources to aid the country's transition to a climate-resilient economy, especially following the completion of its debt exchange program. She described the division as both a symbol of commitment to environmental sustainability and a practical tool for driving green growth and entrepreneurship. The African Development Bank's Country Director for Ghana, Ms. Eyerusalem Fasika, praised the establishment of the division, recognizing it as a testament to Ghana's dedication to climate change mitigation. She noted that i t would enable access to investment funds from the Bank and other international sources. Additionally, Magdalena Liston Johnson from the UK's Foreign, Commonwealth and Development Office expressed optimism about the division's potential to facilitate collaboration and implement effective climate projects and actions.