Welcome to the AfDB CIF 2014 Annual Report. In this report, we invite you to explore developments in the AfDB CIF portfolio, which has advanced to leverage finance and knowledge for 27 countries (through 1 regional and 24 country Investment Plans) in Africa as they work to pilot transformations in clean technology, sustainable forest management, renewable energy access, and climate resilient development.

As the report shows, AfDB exponentially increased its CIF portfolio during 2014 by supporting an additional 9 countries to raise their renewable energy profiles through the Program to Scale up Renewable Energy in Low Income Countries (SREP), taking the SREP Africa portfolio from five to 14 countries.

In addition, a number of the original countries in the portfolio have advanced to a more mature stage of development, as demonstrated in Kenya’s Menengai geothermal project and Morocco’s Noor CSP project.

2014 also brought movement forward in our efforts to engage the private sector at the local and national levels, including through innovative private sector projects in Kenya, Mali, Ghana and Mozambique; to facilitate innovative financial solutions such as financial intermediation through local commercial banks and long-term debt financing in local currency; and to move into an integrated approach to mitigation and adaptation in the forest and agriculture sectors.

The report highlights examples of expected results, such as: 2.1 gigawatt (GW) of increased energy through renewables in CTF, a 390 megawatt (MW) increase in geothermal capacity through SREP, significant poverty reduction through PPCR, and an exponential increase in rural micro-enterprises through FIP.

We hope that this report provides you with valuable information and adds to the growing knowledge base on how to finance climate-smart development.

• Full CIF annual report 2014