CIF at a glance
The African Development Bank (AfDB) is an implementing agency of the Climate Investment Funds (CIF), one of the largest fast-tracked climate financing instruments in the world (USD 8 billion).
The CIF are designed to channel scaled up financing—in the form of grants, concessional loans and risk mitigation instruments—to developing countries through multilateral development banks (MDB), including the AfDB. The aim is to blend funding for climate solutions with other MDB, national, and private sector development resources, thereby leveraging substantial additional funds.
By supporting CIF implementation in Africa and adding its own substantial co-financing, the AfDB hopes to inspire investor confidence in the continent and generate even more financing for clean energy and climate compatible development.
- 03/10/2016 - African nations join front-runners in ratifying Paris Agreement on climate change
- 26/09/2016 - Ghana wins US $24 million to restore and expand sustainable forests through innovative public-private partnership
- 01/06/2016 - The Gambia awarded US $1.5 million to undertake a sweeping Strategic Program for Climate Resilience
- 27/05/2016 - African journalists join AfDB to explore the path to a green and powered Africa
- 11/05/2016 - Rwanda gets green light to prepare plan to sustainably enhance its forest resources