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.
- 17/11/2016 - Africa’s renewable energy revolution must engage public and private financing partners to break down economic, political and social risks, experts agree
- 07/11/2016 - Geothermal energy can curb Africa’s energy shortage and more
- 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