AfDB’s “CIF in Action” Highlights Work Behind US $977-million Investment in Africa’s Low Carbon, Climate Resilient Development
The African Development Bank’s “CIF in Action” is a semi-annual report on the Bank’s activities in implementing the Climate Investment Funds (CIF) in Africa.
A publication of the Energy, Environment and Climate Change Department (ONEC), this first edition covers the period from January to June 2012. It features updates on investment plans and projects in 15 African countries amounting to AfDB Board-approved financing of US $225 million from CIF resources and US $752 million in AfDB co-financing to support transformations in clean technology, sustainable management of forests, increased energy access through renewable energy, and climate-resilient development.
The report sheds light on the tremendous amount of work that the African pilot countries and the AfDB are doing to turn Africa’s potential for low carbon, green growth into reality. Read lessons learned from pilot countries meetings and learning workshops, links to reports and press coverage of recent events.
As the world comes together to design the Green Climate Fund, the CIF are being used as an important benchmark for drawing lessons. The AfDB is one of the five implementing agencies for CIF concessional funds, channeling one third of all CIF financing to Africa, the equivalent of approximately US $900 million.