The  northwestern  region  of  the  Sierra  Nevada  de  Santa  Marta  (SNSM)  in  northern Colombia is highly vulnerable to water shortages as a result of droughts and changes in rainfall and river flow rates associated with climate change. Climate change is expected to reduce water supply by 46% due to a 1ºC increase in temperature and between 10% and 30% decrease in precipitation for the period 2011-2040 based on  a multi-scenario analysis that averages the four RCPs (RCP2.6, RCP4.5, RCP6.0, and RCP8.5). Funding is being requested from the Green Climate Fundin order to increase the water security of  urban  and  rural  water  users  in  the  river  basins  located  in  this  region,  based  on improving the adaptive capacities of the most vulnerable communities, a stable supply of water  ecosystem  services  and  more  resilient,  productive,  and  diversified  livelihoods  in supply  watersheds.  These  outcomes  will  be  achieved  through  increased  resilience through  the  conservation  and  restoration  of  key  ecosystems  in  the  provision  of  water regulation services and soil erosion control,including climate resilient rural water supply systems,  adoption  of  climate-smart/water  saving  technologies,  improved  livelihoods  of most vulnerable people to face the effects of climate variability and change, and through enhanced water governance under a changing climate. The Project will benefit 615,577 people inhabiting the urban centers of Santa  Marta, and  Ciénaga and Zona Bananera, which are located in the project target area, including Pueblo Viejo, which even though it is not located within the project area, it does obtain its water supply from one of the project watersheds  (607,601  people),  and  7,976  people  from  rural  agricultural  areas  covering 12,772  hectares,  over  a  period  of  7  years.  Conservation  International (CI)as  an Accredited Agency will lead this initiative,working with the Fundación Pro Sierra Nevada de  Santa  Marta,  CI  Colombia  and a  national  financial  entity  that  will  administer  aninnovative financial mechanism to provide incentivesthatpromote a more efficient use of water and climate-smart investments, jointly asExecuting Entities, in coordination with the  regional  environmental  authority  (CORPAMAG),  the  Magdalena  Government,  the municipalities, the Santa Marta and Ciénaga Water Fund, agricultural co-ops, and local community organizations.