Climate Investment Funds (CIF)

12-Oct-2015

Payment for Environmental Services - A promising tool for natural resources management in Africa

This publication is part of the work undertaken by the African Development Bank in the context of its new strategy for 2013–2022 driven by its twin objectives of “inclusive and increasingly green growth”. The Bank mobilizes climate finance—including from the Climate Investments Funds—for its regional member countries. It also provides technical assistance for them to engage on a low carbon and climate resilient development pathway.
29-Sep-2015

CIF mid-year brochure 2015

Many CIF-funded projects have advanced to a second stage of development. Under CTF, in Morocco, Noor II and III are generating energy with concentrated solar power, helping diversify the country’s energy mix while creating new jobs. In Kenya, Menengai Geothermal is on track to generate 150 MW of power by 2017.
10-Jul-2015

Climate Finance Bimonthly Newsletter - Issue N°31 - May-June 2015

At its governing body meetings mid-May, the Climate Investment Funds (CIF) endorsed 9 African nations to serve as pilot countries for critical aspects of climate-smart development, with six pilot countries for climate resilience and three for sustainable forests. In addition, governments unanimously endorsed Ghana’s ambitious investment plan to transform and promote its renewable energy sector (see Focus on renewable energy). As a result, the AfDB-CIF portfolio now includes 34 pilot programs in 27 African countries.
12-Jun-2015

Eskom’s Sere wind farm in South Africa financed by the AfDB and CIF now in full commercial operation

The Sere Wind Farm from Eskom, the South African electricity public utility, recently achieved its full commercial operational capacity of a 100 MW . The achievement of this milestone in the Western Cape of South Africa is in line with the commitments made by Eskom in terms of both time and cost. The African Development Bank approved in 2011 a USD 45 million loan with USD 50 million contribution from the Clean Technology Fund, one of the Climate Investment Funds (CIF) for this first utility scale renewable energy project. The World Bank and the French Development Agency also contributed...
09-Jun-2015

Payment for Environmental Services, a promising new tool to sustain long-term green investments

The African Development Bank launched on Tuesday, June 9, its report, Payment for Environmental Services: A promising tool for natural resources management in Africa, the first of a new AfDB-Climate Investment Funds knowledge series. The report details the tool’s potential to improve natural resources management efficiency, ensure the flow of environmental services for the businesses and infrastructure that rely upon them and establish new sustainable finance for conservation. Simply stated, Payment for Environmental Services (PES) is an incentive offered to farmers or landowners in...
08-Jun-2015

CSOs in dialogue: Expanding engagement with civil society to advance Africa’s climate-smart development

The example of Menengai geothermal project On May 28, 2015, the African Development Bank (AfDB) and the Climate Investment Funds (CIF) co-hosted an open dialogue session in the AfDB’s Civil Society Organization (CSO) Forum in the margins of its Annual Meetings in Abidjan, Côte d’Ivoire. In the session, participants used as a jumping-off point the CIF’s unique multi-stakeholder approach, with the AfDB serving as a key implementing agency and partner.  The lively session with more than 60 representatives of CSOs explored ways to effectively engage stakeholders, consider their views,...
28-May-2015

Climate Finance Bimonthly Newsletter - Issue N°30 - March-April 2015

22-May-2015

African countries reach tipping point as pilots for renewable energy, climate resilience and sustainable forests

At its governing body meetings last week, the $8.1 billion Climate Investment Funds (CIF) endorsed 9 African nations to serve as pilot countries for critical aspects of climate-smart development, with six pilot countries for climate resilience and three for sustainable forests. In addition, governments unanimously endorsed Ghana’s ambitious investment plan to transform and promote its renewable energy sector. These endorsements, supported by the African Development Bank (AfDB), exponentially build on the current CIF AfDB portfolio, raising the number of pilot...
15-May-2015

Ghana receives resounding endorsement of investment plan to transform its renewable energy sector

At its governing body meetings this week, the Climate Investment Funds (CIF) unanimously endorsed Ghana’s ambitious investment plan to transform and promote its renewable energy sector. The plan, which is slated to receive $40 million in funding from the CIF’s Program for Scaling Up Renewable Energy in Low Income Countries(SREP), is structured around four key projects: renewable energy mini-grids and stand-alone solar PV systems; solar PV-based net metering with storage; utility-scale solar PV/wind power generation; and a technical assistance project (supported by the Sustainable Energy...
11-Mar-2015

Climate Finance Bimonthly Newsletter - Issue N°29 - January-February 2015

ACCORDING TO Africa Energy Outlook, by 2040, almost half of Africa's growth in electricity generation will come from renewable energy resources. Responsibly and efficiently harvesting the continent's renewables to make this a reality is however, costly. Climate finance is therefore key to unlocking the continent's potential in this arena. AS A SIGN OF ITS COMMITMENT to energy generation from renewables in both the mid- and long-term, AfDB is an implementing agency of the Clean Technology Fund (CTF) and the Scaling Up Renewable Energy in Low Income Countries Program (SREP) ‒ funding windows...
26-Feb-2015

African Development Bank now supports 27 African countries to advance climate-smart initiatives, report says

In its 2014 Annual Report Financing Change: AfDB and CIF for a Climate-Smart Africa released Thursday, February 26, the African Development Bank (AfDB) shows that its support to Africa through the Climate Investment Funds (CIF) increased exponentially in 2014 to include one regional and 24 national Investment Plans, with an additional nine poor countries being funded for renewable energy solutions. It also shows an additional $500 million from AfDB and CIF for a total of $2.1 billion going to 16 projects already underway in 11 African nations. As the report shows, 34% of the $8.1...
22-Jan-2015

Climate Finance Bimonthly Newsletter - Issue N°28 - November-December 2014

THIS YEAR will be important for energy and climate change in Africa, and for the African Development Bank. At the 20th UN Conference of the Parties on Climate Change (COP20), which concluded on 14 December 2014, many new climate finance pledges were confirmed – US$ 50 million more for the Adaptation Fund, US$ 800 million for the Climate Investments Funds US$ 10 billion for the Green Climate Fund (GCF). Yet, we all know that they are not enough – and far from the goal of mobilizing jointly USD 100 billion per year by 2020 to address global climate challenges, especially in developing countries.
21-Nov-2014

Low-Income African Countries Get Go-Ahead for Green Energy, Climate Resilience and Forest Management

At the semi-annual Climate Investment Funds (CIF) governing body meetings in Washington, DC this week, countries unanimously signaled their commitment to the CIF mandate going forward, and opened the door for African low-income countries to move forward with new plans for green energy services, resilience to climate impacts, and better managing crucial forests. Under the Program for Scaling-Up Renewable Energy in Low Income Countries (SREP), countries signaled their strong support for countries in Africa and elsewhere to develop SREP investment plans and associated projects. This...
04-Nov-2014

AfDB Reaffirms its Support to Geothermal Development in East Africa

Over the course of the 5th African Rift Valley Geothermal Conference (ARGeo C-5), the African Development Bank (AfDB) has clearly reaffirmed its on-going support to the development of geothermal power in the East Africa Rift Valley region. The ARGeo conference seeks to further regional cooperation in the development and utilization of geothermal resources in East Africa. It brought together approximately 400 policy, technical and development experts to network and interface with both local and international geothermal companies to explore how to reduce project lead times, leverage...
30-Oct-2014

AfDB strongly committed to preserving ecosystems and wildlife in Africa

The African Development Bank (AfDB) participated to the Twelfth Meeting of the Conference of the Parties (COP12) of the United Nations Convention on Biological Diversity (CBD) that took place from October 6-17, 2014 in Pyeongchang, Republic of Korea. During the last Global Environmental Facility (GEF) assembly meeting in Cancun Mexico last May, the CBD Secretariat convened a meeting with the multilateral development banks (MDBs), including the AfDB, to discuss the role of regional development banks in regional cooperation on biodiversity and ecosystem services and explore possibilities for...
29-Oct-2014

5th African Rift Geothermal (ARGeo) Conference

The African Development Bank is co-sponsoring and is actively involved in the upcoming 5th African Rift Geothermal (ARGeo) Conference in Arusha, Tanzania. The conference seeks to further regional cooperation in the development and utilization of geothermal resources. The conference will bring together policy, technical and development experts to network and interface with both local and international geothermal companies to explore how to reduce project lead times, leverage financing and effectively manage geothermal power plants. It will be opened by President Jakaya Kikwete, President of...
17-Jul-2014

Growing Green - AfDB and CIF for a Climate-Smart Africa - July 2014

With more than half of the AfDB CIF projects approved, the second half of 2014 will focus on action in ongoing projects and new initiatives to expand the portfolio’s impact and help increase evidence-based learning. The evolution to this point has been complex but has benefited from committed engagement of all stakeholders. Change does not come easy, but the tipping point for climate-smart development is on the horizon, and we have the African countries’ dedication to look to for inspiration.
11-Jul-2014

Climate Finance Bimonthly Newsletter - Issue N°26 - May-July 2014

AFRICA IS CHANGING. Today, the continent is on its way to becoming a centre of hope for the coming decades. To support this transformation, the AfDB seeks to promote inclusive growth and a transition to green growth. Thus, in the context of discussions held during the AfDB Annual Meetings on "The Africa we want", green growth was at the heart of the debate. Every expert present agreed on the need to sustainably manage renewable and non-renewable natural resources; doing so will enable African countries to benefit more from their great potential, while preserving their natural capital.
07-Jul-2014

Nine low-income African countries win funding to transform renewable energy services

At the semi-annual Climate Investment Funds (CIF) governing body meetings held June 25-28 in Montego Bay, Jamaica, nine African nations were chosen to receive new funding and operational support from the CIF’s Scaling Up Renewable Energy in Low Income Countries Program (SREP). The nine African countries are: Benin, Ghana, Lesotho, Madagascar, Malawi, Rwanda, Sierra Leone, Uganda and Zambia. This increases the number of African countries piloting CIF climate-smart investment plans to 25, representing nearly half of all countries on the continent. The African Development Bank...
30-Jun-2014

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....