Climate Investment Funds (CIF)

08-Feb-2019

Climate Investment Funds holds its ten-year anniversary summit at the world’s largest solar plant in Morocco

The Climate Investment Funds’ “The Power of 10: Shaping the Future of Climate Action” event took place on 28-29 January, 2019 in Ouarzazate, Morocco at the Noor concentrated solar power complex, the largest plant of its type in the world, providing renewable energy to more than 2 million households. The summit convened over 300 climate leaders from the public and private sectors for action-oriented dialogue on fighting climate change. Hon. Aziz Rabbah, Minister of Energy, Mines and Sustainable Development of Morocco, opened the celebration with a message of hope to African...
11-Jan-2019

Case Study – June 2018 - Geothermal Energy Powering Kenya’s Future – Menengai Geothermal Field Development Facilitated by Public-Private Partnerships

This case study was financed by the Climate Investment Funds (CIF), and prepared by Jan Van Den Akker from Baastel. A number of people contributed to the preparation of this case study. The author is grateful to Solomon ASFAW from African Development Bank (AfDB) and George Mwenda from Kenya’s Geothermal Development Company (GDC) and their respective teams for sharing their extensive knowledge of years of experience in coordinating this project. The author is also grateful for the valuable contributions provided by Leandro Azevedo (AFDB), Emmanuel Kouadio, Sandra Romboli and Rafael Ben from...
11-Jan-2019

Case Study – June 2018 – Facilitating Geothermal Field Development Through Public-Private Partnerchips in Menengai - Kenya

The core development challenge was to secure a reliable, sustainable and affordable power supply to meet current and future demand in Kenya, where energy demands are growing rapidly, and hydropower and fossil fuel thermal generation are increasingly unsustainable. To tackle this challenge, Kenya sought to increase production of geothermal energy, of which it has substantial resources. The Menengai project was undertaken by the Geothermal Development Company (GDC), set up by the government to undertake exploration and sell steam to independent power producers (IPPs). It was the first project...
03-Jan-2019

Climate Finance Newsletter - Issue N°43 - COP24 Special Edition - December 2018

THE AFRICAN DEVELOPMENT BANK, actively participated in COP24 with five broad objectives: building and strengthening partnerships to promote climate-resilient and low-carbon development in Africa, supporting African positions in negotiations, mobilizing finance, acquiring and sharing knowledge, and presenting the work of the Bank in aligning its investments with the Paris Agreement. At the end of the two week-long COP24, the African Development Bank’s Pavilion hosted some forty round tables and conferences addressing all aspects of the fight against climate change in crucial economic...
10-Dec-2018

COP24: From Policy to Action: Integrating Gender into National Climate Actions in Africa

“Women’s voice is critical, from local to the national, in planning and implementation.  We must ensure women are given the skills tools and finance to address the climate change challenge,”  Mafalda Duarte, Head of the  Climate Investment Funds, urged attendees  Monday, at a side-event  at the 24th Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP24). The event, titled ‘From Policy to Action: Integrating Gender into Nationally Determined Contributions (NDCs) and National Climate Actions in Africa,’ was held...
27-Nov-2018

Towards a climate-smart Africa - The AfDB and CIF driving Africa's climate action - November 2018

In 2018, the Climate Investment Funds (CIF) is celebrating 10 years of operations. Over the past decade, the CIF has worked to mainstream climate change financing into development activities and catalyze transformational change at scale throughout the world. In Africa, the African Development Bank (AfDB) continues to act as a CIF implementing entity and partner of choice, advancing a growing portfolio of projects in renewable energy, forestry, and resilience solutions across the four CIF programs  
24-Sep-2018

African Development Bank Supports Ghana’s Renewable Energy Sector with $1.5 Million Grant

The African Development Bank has approved a US$1.5 million grant from its Sustainable Energy Fund for Africa (SEFA), to assist Ghana’s s renewable energy investment drive. The grant will support the Ghana government’s efforts to overcome technical, financial, regulatory and institutional barriers to scaling-up renewable energy investments in the country. The project, which is  part of the Bank-led Climate Investment Fund (CIF) and the Scaling-up Renewable Energy Programme (SREP) Investment Plan for Ghana, will complement the Bank’s effort in the Ghana Energy...
29-Jun-2018

AfDB CIF 2017 Annual Report

The Climate Investment Funds (CIF) provide funding to 72 countries around the world to pilot transformational change in clean technology, sustainable management of forests, renewable energy access, and climate resilient development. AfDB is channeling more than USD 2.4 billion across 27 countries. The four programs included in the CIF are the:
13-Jun-2018

MDB climate finance hit record high of US$ 35.2 billion in 2017

Climate financing by the world’s six largest multilateral development banks (MDBs) rose to a seven-year high of US$ 35.2 billion in 2017, up 28 per cent on the previous year. Read joint MDB report See infographic The MDBs’ latest joint report on climate financing said US$ 27.9 billion, or 79 per cent of the 2017 total, was devoted to climate mitigation projects that aim to reduce harmful emissions and slow down global warming. The remaining 21 per cent, or US$ 7.4 billion, of financing for emerging and developing nations was invested in climate adaptation projects that help...
08-Jun-2018

The African Development Bank and the Climate Investment Funds support their first private sector-led geothermal power plant in Kenya

The African Development Bank approved on June 6, 2018 a senior loan of US $29.5 million and a concessional loan of US $20 million from the Climate Investment Funds (CIF) Clean Technology Fund (CTF) to Quantum Power East Africa GT Menengai Ltd. The funding will support the development of a 35-MW geothermal power plant at the Menengai geothermal field in Nakuru County, Kenya, one of three modular geothermal plants in the Menengai field with a combined capacity of 105 MW. The project is part of the CTF Geothermal Concessional Finance Program under the Dedicated Private Sector...
06-Mar-2018

Inclusive Climate-Smart Finance – Reaching those most in need

Addressing the climate challenge rests inter alia on the availability of adequate and sustainable climate-smart finance, along with properly designed mechanisms for its smooth provision. Leveraging such mechanisms has the potential to address socio-economic imbalances and political grievances that aggravate communities’ vulnerability and reduce their resilience to the impacts of climate change and extremes. Implementing an inclusive approach – that takes into account the needs, interests and differential vulnerabilities of men and women – in all aspects of project development, including...
15-Jan-2018

Climate Finance Bimonthly Newsletter - Issue N°42 - COP23 Special Edition - January 2018

AS WE ENTER INTO 2018, I would like to extend best wishes and season's greetings to you both personally, and on behalf of AfDB’s Climate Change and Green Growth Department. In this special edition of the Climate Finance Newsletter we present key highlights from the 23rd session of the Conference of the Parties to the UNFCCC (COP23) and the 13th session of the Conference of the Parties to the Kyoto protocol held in Bonn, Germany from 6-17 November 2017 under the presidency of the Fiji government. COP23 brought together over 26,000 participants and successfully demonstrated to the world that...
07-Nov-2017

Climate Finance Bimonthly Newsletter - Issue N°41 - July - September 2017

LAST YEAR, the world’s six largest multilateral developments banks continued to make a strong contribution to the global climate challenge by increasing the amount of climate finance dedicated to developing and emerging economies. As reported in the recently launched joint Climate Finance annual report, the total amount of finance mobilised for climate action reached US$ 65.3 billion in 2016. Africa, however, continued to receive the smallest proportion of this funding despite being the region most impacted by climate change. Undeterred by the shortfalls faced in receipt of much needed...
24-Oct-2017

Growing Green - The AfDB and CIF for a Climate -Smart Africa - October 2017

With nearly ten years of growth and innovation in their CIF partnership, AfDB and Africa’s CIF pilot countries entered 2017 with deepening refinement and expansion of the portfolio. By mid-2017, AfDB’s support helped trigger new country actions on seven critical fronts
04-Sep-2017

Unlocking capital flows for forest development in Africa

The African Development Bank (AfDB) and the Climate Investment Funds’ Forest Investment Program (CIF FIP) have released a report on how unlocking capital flows to foster forest sector development in Africa. The report builds on the results of the first African Forestry Investment Conference (AFIC) organized by AfDB in June this year in Accra, Ghana. Attended by over 70 participants, the conference highlighted the benefits of forestry investments in Ghana and in West Arica. African countries have experienced the world’s most extreme land degradation through...
31-Aug-2017

Mali : un atelier de formation sur les énergies renouvelables pour sensibiliser les journalistes aux enjeux du secteur

Au Mali, un atelier d’information et de formation des médias a été organisé dans le cadre du Projet d’appui à la promotion des énergies renouvelables (PAPERM), vendredi 14 juillet 2017, au siège de la Direction nationale de l’énergie, à Bamako. Objectif : informer les journalistes sur le potentiel du Mali dans les énergies renouvelables et ce que fait le pays en ce domaine, dans le but d’en optimiser le traitement médiatique et de mettre en place un réseau de journalistes...
08-Aug-2017

Climate Finance Bimonthly Newsletter - Issue N°40 - April-June 2017

GATHERED under the theme, “Transforming Agriculture for Wealth Creation in Africa,” the 2017 African Development Bank Annual Meetings in May brought together thousands of representatives from government, business, civil society, think tanks, academia and the media – from Africa and beyond – to discuss one of the Bank’s High 5 priority areas and its performance in delivering results to “Feed Africa.” In order to meet this goal, delegates discussed a wide range of issues, including creative energy solutions. One such example of this is the Ouarzazate solar energy project in Morocco, which won...
19-Jul-2017

Tanzania wins US$21.7 million from Climate Investment Funds to advance geothermal exploration and transform its energy sector

The Climate Investment Funds (CIF) has approved US $21.7 million for the United Republic of Tanzania to finance its Geothermal Energy Development Project. The project serves as a significant step in advancing the country’s plans to transform its national economy bolstered by an affordable and baseload sustainable energy technology. It will develop the Ngozi geothermal steam field in southwestern Tanzania and ultimately showcase the technology’s broader potential in the country’s energy transformation. The project is funded under the CIF’s Scaling-up Renewable Energy Program (SREP) and...
18-Jul-2017

Unlocking Capital Flows for Forest Sector Development in Africa - A report from the 2017 African Forestry Investment Conference

This knowledge product is part of the work undertaken by the AfDB’s Climate Change and Green Growth Department (PECG), in the context of their work with the Climate Investment Fund’s Forestry Investment Program (CIF FIP).
03-Jul-2017

Morocco secures US $25 million loan from the Clean Technology Fund for hybrid solar project

Morocco received approval for a US $25 million loan from the Climate Investment Funds’ Clean Technology Fund (CIF CTF) for a project to generate solar power through an innovative hybrid Concentrated Solar Power (CSP) and Photovoltaic (PV) solution. The Midelt Phase I Concentrated Solar Power Project is being supported by the African Development Bank (AfDB) and the World Bank with an additional allocation of US$ 25 million in CTF resources. The project consists of two separate CSP plants, each with 150-190 MW CSP capacity and a minimum of 5 hours of thermal storage. The envisaged...