CIF Annual Report 2022

Welcome to the African Development Bank and Climate Investment Funds (CIF) 2022 Annual Report.

With $11.1 billion pledged, CIF is one of the largest active climate finance mechanisms in the world. It works in partnership with governments, the private sector, civil society, and local communities, as well as through six major multilateral development banks (MDBs).

As an Implementing Entity of the CIF, the African Development Bank has supported the development of 39 investment plans across 27 African countries with the objective of unlocking climate action. As of end-December 2022, the African Development Bank has approved 34 projects, deployed $946 million in CIF resources, and provided $1.993 billion in co-financing.

Mafalda Duarte, Head of CIF, said: “I am amazed by the work of our partnership. Together, we have laid the groundwork for an extraordinary 2023, where we will be celebrating 15 years of climate action with CIF!”

Kevin Kariuki, Vice President of Energy, Power, Climate and Green Growth at the African Development Bank, said: “CIF was created by MDBs and for MDBs and its member countries. As a financing mechanism that provides concessional resources to support climate change projects, CIF is one of a kind and a partner of choice for the Bank and the African continent.”

In this report, we invite you to explore developments and results in the Bank-CIF portfolio, including the new CIF programs. The special focus session of the report features cross-cutting elements and special initiatives such as Just Transition, gender mainstreaming and youth, the Adaptation Benefits Mechanism and Green Banks.

The report provides access to important knowledge gained during the year -- in the form of publications, videos and events. We hope it offers you valuable information and growing knowledge on the Bank’s work in expanding Africa’s access to climate financing through CIF.

Click here to read the African Development Bank and CIF annual report 2022

Full AfDB-CIF annual report 2022

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