Africa shares its climate knowledge at Climate Investment Funds Partnership Forum
At the recent Climate Investment Funds (CIF) Partnership Forum, held from 23-24 June in Montego Bay, Jamaica, the African Development Bank (AfDB) and representatives of other key African institutions showcased their extensive knowledge in the field of climate action to a global audience.
The CIF Partnership Forum, held every 18 months, brought together almost 500 stakeholders from around the world, including governments’ representatives, civil society organizations, indigenous peoples groups, the private sector, contributor countries and multilateral development banks.
The AfDB contributed to the Partnership Forum in two ways. Firstly, through active participation in the plenary sessions of the Forum, including on gender, independent monitoring, unlocking climate finance for the private sector andde-risking geothermal exploration. Secondly, the AfDB was an active and visible participant in the Forum’s knowledge bazaar – a venue for the exchange and sharing of learning, knowledge and experience – which highlighted that a third of African nations are utilizing AfDB and CIF support to engage in climate smart initiatives.
Speaking about the Forum, Mafalda Duarte, AfDB CIF coordinator said “It is reassuring, in the context of climate change, to see so many diverse entities – civil society, private sector, indigenous groups and multilateral development institutions – coming together in partnership to share knowledge, develop the frameworks and coordination mechanism necessary to deliver climate financing at scale to the countries that need it most.”
Looking beyond the AfDB, there was varied and active participation from across the African continent. David Kaluba, National Coordinator, Ministry of Finance and National Planning, Zambia spoke on the importance of engaging stakeholders for climate smart development. Guy Patrice Dkamela, Advisor, Center for Research and Action toward Sustainable Development contributed to a session highlighting lessons learned from the CIF on partnerships, investment and learning.
Mekuria Lemma Tulu, Director of Strategic Planning, Ethiopian Electric Power, shared the experience of Ethiopia in de-risking the exploration phase of geothermal development. Esombo Flory Botamba, the REDD+ focal point for the World Wildlife Fund (WWF) shared their experience of building readiness and implementing REDD+ projects.
Established in 2008 as one of the largest fast-tracked climate financing instruments in the world, the $8 billion CIF provides developing countries with grants, concessional loans, risk mitigation instruments, and equity that leverage significant financing from the private sector, MDBs and other sources. Five MDBs—the African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), Inter-American Development Bank (IDB), and World Bank Group (WBG)—implement CIF-funded projects and programs.