The Cabinet has approved steps to draft legislation to establish the Climate and Nature-Positive Investment Fund (CANOPI Fund).

The fund aims to raise local and foreign financing for climate mitigation, adaptation and conservation projects.

Approval was also granted to set up a legally empowered authority to coordinate and monitor restoration activities in the Central Highlands following the impact of Cyclone “Ditwa”.

The proposal was presented by the President in his capacity as Minister of Finance, Planning and Economic Development.