Green Climate Fund

08-Aug-2019

International Workshop for the design of REDD+ Investment Projects in Africa

WHAT: International workshop on Reducing Emissions from Deforestation and Forest Degradation (REDD+) projects WHO: The African Development Bank, Ministry of Environment and Sustainable Development of Côte d’Ivoire, the Green Climate Fund (GCF), and the Japan International Cooperation Agency (JICA) WHEN:  Tuesday, 13 August 2019 - Friday, 16 August 2019 WHERE: African Development Bank, CCIA building, Abidjan   The Africa Climate Smart Agriculture Program (ACSA) of the African Development Bank, in collaboration with the Ministry of Environment and Sustainable...
11-Jul-2019

Green Climate Fund announces $20m for African Development Bank’s Affirmative Finance Action for Women in Africa’s climate resilience project in Ghana

ABIDJAN, Cote d’Ivoire, 11 July 2019 - The Green Climate Fund has announced a $20 million grant to the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) program for a climate action project to support women-led farmers’ associations and micro, small and medium enterprises in Ghana’s agricultural sector. The funds will go to the “Financing Climate Resilient Agricultural Practices in Ghana” project, following approval by the Green Climate Fund board at a meeting held 6 - 8 July 2019 in Songdo, South Korea. The board members decided to increase the grant...
06-Jun-2019

African Development Bank, Adaptation Fund, Green Climate Fund convene first Direct Access to climate finance meeting

To accelerate and enhance Direct Access to climate finance for developing countries that are vulnerable to climate change, the Adaptation Fund (AF), Green Climate Fund (GCF), African Development Bank   and South African National Biodiversity Institute (SANBI) are joining forces to facilitate a meeting of more than 30 accredited implementing entities in Durban, South Africa. The meeting which will run from  5-7 June, is aimed at furthering a common Community of Practice for Direct Access Entities (CPDAE) through the adoption of a governance...
27-Mar-2019

African Development Bank approves $20 Million facility for Green Mini-Grid Program in Democratic Republic of Congo

The African Development Bank Board has approved the allocation of $20 million in loans to the Democratic Republic of Congo, to support renewable-based, mini-grid solutions to the off-grid cities of Isiro, Bumba and Genema. The DR Congo Green Mini-Grid Program will serve as the pilot to an innovative private-led electrification approach to deploy renewable-based mini-grid solutions in the central African nation. The program will supply power to cities with sizeable populations, some of them with a few hundred thousand inhabitants, without any access to modern energy. With limited grid...
23-Oct-2018

Green Climate Fund Board approves three African Development Bank proposals for Green Climate Projects worth over US$ 110 million

The Board of the Green Climate Fund (GCF) has approved funding for three proposals from the African Development Bank totaling over US$110 million. The approvals were granted at the GCF’s 21st Board Meeting held October 17 – 20 2018 in Manama, Bahrain. Overall, the GCF Board, which was co-chaired by Paul Oquist from Nicaragua, and Ambassador Lennart Båge from Sweden, considered 20 funding proposals requesting approximately US$1.2 billion. The Board approved US$67.8 million for the Programme for Integrated Development and Adaptation to Climate Change in the Niger Basin (PIDACC/NB...
11-Jul-2018

Zambia to diversify energy generation with African Development Bank support

The Board of Directors of the African Development Bank has approved US$50 million framework financing for small-scale renewable energy projects in Zambia, which will help diversify Zambia’s energy generation heavily reliant on hydro-electricity. Facing a serious electricity supply deficit due to recent droughts, Zambia’s Government launched the Renewable Energy Feed-in-Tariff (REFiT) policy in 2017 to crowd-in private investments for small-scale (up to 20MW) renewable projects. The “Global Energy Transfer Feed-in Tariffs” (GETFiT) Zambia Program has been designed to facilitate 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...
07-Mar-2018

The African Development Bank obtains US$ 52.5 million Green Climate Fund for Zambia Renewable Energy

At its 19th Board Meeting in Songdo, South Korea, the Board of the Green Climate Fund (GCF) has approved the first funding proposal of the African Development Bank for Zambia’s Renewable Energy Financing Framework. The GCF will provide a US$ 50 million loan and a US$ 2.5 million grant The Framework aims to finance 100 MW of renewable energy projects under the Renewable Energy Feed-in-Tariff (REFiT) policy of Zambia. The primarily solar projects will help diversify Zambia’s energy production which is heavily reliant on Hydro-electricity. Facing a serious electricity...
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...
08-Nov-2017

African Development Bank and Green Climate Fund in full-scale partnership to unlock Africa’s potential

If the fight against climate change is not won in Africa, it cannot be won anywhere else, said Akinwumi Adesina, President of the African Development Bank (AfDB) while signing a partnership agreement with the Green Climate Fund.  “Only by defeating the climate change threat in Africa can we reach a global solution,” Adesina said.  He called on AfDB and GCF to “work together to win this war,” while signing an Accreditation Master Agreement (AMA). These legal arrangements allow Accredited Entities such as AfDB to implement GCF-approved projects.  “Together with the Green...
25-Jun-2017

Sudan: AfDB Takes the ‘Desert to Power Initiative’ to Sudan

In a collaborative initiative, the African Development Bank (AfDB) and the Food and Agriculture Organisation (FAO) have joined efforts to operationalize the ‘Desert to Power Initiative’ in eleven countries including Sudan. In his key note remarks at the opening session on 25 July 2017 in Khartoum, Abdul Kamara, Manager of AfDB’s Sudan Country Office said that the objective of the Initiative is to transform precarious situations in the desert part of Africa into development opportunities for local communities. He reiterated that this would be achieved through integrated interventions that...
24-Oct-2016

AfDB Group to co-host the 5th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference in Seoul

An African Development Bank (AfDB) Group delegation led by President, Akinwumi Adesina, will attend the 5th KOAFEC Ministerial Conference in Seoul, South Korea from October 24-27, 2016. The Bank is co-hosting the conference whose theme is: “Transforming Africa’s Agriculture through Industrialization and Inclusive Finance”, with the Korea Ministry of Strategy and Finance (MOSF), and the Export-Import Bank of Korea (EXIM). The theme emphasizes the business value of agriculture to Africa’s socio-economic transformation. The KOAFEC Ministerial Conference, which has...