Climate Investment Funds (CIF)

27-Jun-2017

Liberia to transform renewable energy sector with support from the African Development Bank and the Climate Investment Funds

The Climate Investment Funds (CIF) awarded Liberia a grant in the amount of US$ 23.25 million to help transform the country’s renewable energy sector. The project aims at developing a 9.8 MW hydropower plant at Gbedin Falls on the Mano River in Nimba County and provide a low-cost, sustainable and reliable source of electricity to Liberia. The project will be funded by Scaling-up Renewable Energy Program (SREP), a program under the CIF which objective is to empower transformation in developing countries by demonstrating the economic, social and environmental viability of renewable energy...
17-May-2017

Climate Finance Bimonthly Newsletter - Issue N° 39 – January-March 2017

AS the AfDB Vice Presidency for Power, Energy, Climate and Green Growth, marks its first 100 days, the Climate Change and Green Growth Department (PECG) has set itself on firm ground to play a pivotal role in delivering the High 5s through innovative solutions including finance aimed at addressing climate change challenges in Africa. Effective adaptation and mitigation actions cannot be undertaken without addressing a number of cross-cutting structural issues such as institutional capacity development, innovation and technology transfer, and readiness to access climate finance. The...
11-Apr-2017

Adaptation Benefit Mechanism (ABM) workshop

Jointly organized by the African Development Bank (AfDB), the Climate Investment Funds (CIF) and the Lancaster University Pentland Centre for Sustainability in Business, this invitation-only event will launch the concept of an Adaptation Benefit Mechanism – a transparent and efficient results-based mechanism to support adaptation to climate change, will be held at The Work Foundation, Trafalgar Square, from 9:00-13:30, Tuesday, April 11, 2017. The Adaptation Benefit Mechanism (ABM) is a revolutionary programme developed by the Bank with initial funding from the CIF and...
31-Mar-2017

African Development Bank approves USD 2.3 million to help advance Uganda’s decentralized renewables development program

The Board of Directors of the African Development Bank (AfDB) approved a project preparation grant of USD 2.3 million to kick-start future investments in decentralized power systems in rural and urban areas in Uganda. The grant was provided by the Scaling–Up Renewable Energy Programme of the Climate Investment Funds managed by the AfDB’s Department of Climate Change and Green Growth. In particular, the grant will cover the expenses associated with the development of an off-grid master plan for the electrification of a number of islands across Lake Victoria, including feasibility studies...
07-Mar-2017

African Development Bank and Forest Investment Program sign loan with Form Ghana Ltd to restore Ghana’s forests

The African Development Bank (AfDB) and Climate Investment Funds’ Forest Investment Program (CIF FIP), have signed a US $24-million loan agreement with Form Ghana Ltd., opening the door to commence the implementation of an innovative project on Public-Private Partnership for the Restoration of Degraded Forest Reserve through Verified Carbon Standard (VCS) and Forest Stewardship Council (FSC) Certified Plantations. Form Ghana Ltd., a forest plantation management company that contributes to large-scale reforestation of degraded forest areas in Ghana, was engaged by AfDB, FIP and...
07-Mar-2017

Mali to receive US $25 million concessional loan to build utility-scale solar photovoltaic plant and transform the West African energy market

The African Development Bank (AfDB) Board of Directors has approved a senior concessional loan of $25 million to fund the Segou Solar PV Project, Mali’s first utility-scale solar photovoltaic (PV) power plant. The project, one of the first in Sub-Saharan Africa, consists of the design, construction and operations of a 33 MW Power Plant. The transformational project will lead to a direct increase in the country’s installed capacity from a renewable resource and will generate 52.7 GWh annually (approximately 10% of the current generation capacity) over 25 years for a lifetime output of 1,...
13-Jan-2017

Swedish firm wins AfDB contract to develop market-friendly Adaptation Benefit Mechanism for climate resilience

The African Development Bank (AfDB), with support from the Climate Investment Funds (CIF), has awarded a contract to Swedish consulting firm CPMA International to help develop a global Adaptation Benefit Mechanism (ABM). The revolutionary ABM would serve as a business model to encourage private sector investment in climate change adaptation, sending a price signal to project developers that will encourage them to invest in technologies, goods and services which bring verified adaptation and resilience benefits to developing economies. Under the ABM, project-based technologies and...
12-Jan-2017

Burkina Faso wins $4-million loan to invest in farmers’ cooperatives to revive sustainable cashew market

With support from the African Development Bank (AfDB), Burkina Faso has been awarded a US $4-million loan from the Climate Investment Funds’ Forest Investment Program (CIF FIP) to revive its cashew sector and mitigate climate change, working through an innovative public-private sector business model between the national union of farmers’ cooperatives and the government. The “Climate change mitigation and poverty reduction through the development of the cashew sector in Burkina Faso” project is funded under FIP’s innovative Private Sector Set-Aside Program*, and will...
27-Dec-2016

COP22: Inclusive Climate Financing

Women in African countries rely heavily on environment-related livelihoods. As such, they are an under-tapped resource in climate change adaptation and mitigation and important partners in promoting and implementing climate-friendly farming techniques. The AfDB will continue to ensure that climate-smart financing contributes to increasing African women’s participation in climate change adaptation and mitigation, including increasing their access to: seed and grain production; green construction of farming plants, solar-powered irrigation, and vegetable-dehydrator plants; agroforestry...
14-Dec-2016

Niger: strengthening climate change resilience

In the heart of West Africa, Niger endures long periods of drought. More than US$350 million have been invested since 1980 in operational programmes, including sustainable land management. Faced with the effects of climate change and challenges due to periods of intense drought, the Government of Niger has decided to act decisively. The goal? To help its people to fight the consequences of climate change and ensure inclusive development and growth. Niger and its fight against the effects of climate change, particularly drought, were the subject of a round table on 15 November 2016...
05-Dec-2016

Transitioning from INDCs to NDCs in Africa

In December 2014, Parties to the United Nations Framework Convention on Climate Change (UNFCCC) meeting in Lima Peru, decided that national contributions to the mitigation challenge and national adaptation actions should be aggregated into Intended Nationally Determined Contributions (INDCs). As a result, 189 countries laid out their approach to tackle mitigation and adaptation by formally presenting their INDCs to the UNFCCC.
02-Dec-2016

Climate finance mobilization required to strengthen NDC ambition, says new report

The African Development Bank (AfDB) Climate Investment Funds (CIF) unit released in November a new study which details regional member countries’ progress in ratifying the Paris Agreement and their efforts to transition Intended Nationally Determined Contributions (INDCs) into Nationally Determined Contributions (NDCs). The report found that in many countries, projected contributions will be conditional based upon receipt of climate finance support. On 4 November 2016, the Paris Agreement, which aims to limit the average global temperature increase by 2100 to well below 2°C...
17-Nov-2016

COP22 - Morocco’s noor: largest concentrated solar power plant in Africa

Since 2010, the AfDB, in partnership with the CTF, European Investment Bank (EIB), European Union (EU), French Development Agency (AFD), German Development Bank (KfW), Moroccan Agency for Solar Energy (MASEN), and the World Bank, has worked with Morocco to develop the Moroccan Solar Energy Program -- Noor. The program aims to develop minimum capacity of 2,000 MW by 2020 in order to secure power supplies for the population and productive sectors of the economy. Noor I, the first 160 MW solar power station, came into commercial operation by early 2016. Subsequent power stations, Noor II and III...
17-Nov-2016

COP22 - Expanding geothermal development in Kenya : A Model for Replication

Today, nearly 80% of Kenya's citizens lack access to basic energy services, and the country's population is rapidly growing. To provide widespread energy services while avoiding an increase in greenhouse gas emissions, the government is committed to developing affordable energy through a low-carbon pathway based on its abundant renewable resources, including geothermal. Although today only 13 percent of its current power comes from geothermal energy, the country has nearly 7,000 MW geothermal potential, enough to produce five times the population's entire energy needs.
17-Nov-2016

Africa’s renewable energy revolution must engage public and private financing partners to break down economic, political and social risks, experts agree

At the UN’s global climate conference this week, governments and development partners came together to examine the role of financing in shaping some of Africa’s groundbreaking renewables successes such as Morocco’s Noor Concentrated Solar Power (CSP) plant. In an event co-hosted by the African Development Bank (AfDB) and the Climate Investment Funds (CIF), participants considered how the growing explosion in renewables in some African countries is being built on strategic partnerships between public and private sources of financing. Renewable energy has been identified as a key driver for...
07-Nov-2016

Geothermal energy can curb Africa’s energy shortage and more

Lucy Wanjiru, aged 65, no longer has to walk over long distances to fetch water for domestic use, thanks to the Menengai Geothermal Development Project in Kenya’s Rift Valley, some 180 kilometres northwest of the capital, Nairobi. The project is co-financed by the African Development Bank (AfDB), the Kenya Government and other partners. Wanjiru, who has resided in the area since 1980, says community members would walk for 12 kilometres in search of clean water. “We used to travel far to get water. Our children, especially girls, would even miss school as they had to allocate that time to...
27-Oct-2016

REDD IN AFRICA - Context, challenges and next steps of REDD mechanisms in the continent

At UNFCCC COP 16 in Cancun, parties to the convention agreed that “REDD+ activities should be implemented in three phases. A phased approach, at both international and national levels, is important to ensure wide participation and to reward countries as they develop REDD+ schemes. The institutional arrangements countries put in place need to be flexible to accommodate changes as they move through the different phases of implementation.
21-Oct-2016

AfDB CIF Annual report 2015

With support from the $8.3 billion Climate Investment Funds (CIF), 72 countries around the world are piloting transformations in clean technology, sustainable management of forests, renewable energy access, and climate resilient development. Of these, African countries are running 1 regional and 38 national investment plans through which AfDB is channeling more than $2 billion for low-carbon and climateresilient programs and projects. The AfDB helps countries run projects in all four of the CIF programs: Clean Technology Fund (CTF), Forest Investment Program (FIP), Pilot Program for Climate...
14-Oct-2016

Growing Green - The Afdb and CIF for a Climate-Smart Africa - 2016

Nationally Determined Contributions (NDCs) are a new type of instrument under the United Nations Framework Convention on Climate Change (UNFCCC) in the Paris Agreement. The historic Paris Agreement will go into force in November 2016. The NDC process is the vehicle under the Paris Agreement through which participating countries agree to contribute to the global goal of constraining greenhouse gas emissions to achieve liveable global temperatures as spelled out in the Agreement. In the run-up to Paris, countries submitted Intended Nationally Determined Contributions (INDCs) identifying the...
03-Oct-2016

African nations join front-runners in ratifying Paris Agreement on climate change

At the United Nations General Assembly in New York on September 21, 2016, nine African nations deposited their articles for  ratification of the global Paris Agreement on climate change, cementing their commitment to a climate-smart development path, and helping the world draw closer to making the Agreement a global reality. Following the ceremony, Mali also filed its ratification papers on September 28, 2016. The Agreement will enter into force thirty days after at least 55 signatory countries submit ratification papers, which account for 55% of the total global greenhouse gas...