African Water Facility to Commit Approximately €25 million in 2012
In 2012, the African Water Facility (AWF) expects to commit about €25 million to 22 new projects that will contribute to climate adaptation and mitigation.
Adaptation projects include large scale water infrastructure, such as multiple-use dams to meet hydro-electric, water supply and agriculture needs. Others focus on improving urban water and solid waste management, as well as long term investment plans for the management of trans-boundary water resources.
The AWF is also funding pilot projects with mitigation value that either employ renewable energy for water pumping or capture and reuse methane emissions.
Hosted and managed by the African Development Bank, the AWF works in three ways:
- Prepare investment projects to mobilize investment funds,
- Fund and participate in projects to enhance water governance and create a conducive environment for effective and sustainable investments and
- Fund projects to promote water knowledge needed to prepare viable projects and develop informed governance.
These three types of interventions are expected to bear results beyond 2012 and attract additional investments to the sector. To date, the AWF has been able to leverage €420 million, with at an average leveraging ratio of 1:20.