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Welcome to the African Development Bank’s Climate Investment Fund (CIF) 2016 Annual Report. In this report, we invite you to explore developments in the Bank’s CIF portfolio, which is helping Africa more rapidly advance its climate-friendly development.
As the report shows, in 2016 both the Bank and the CIF underwent significant transformation in their approach to critical climate support to Africa. The Bank undertook a major institutional restructuring to move closer to its clients and streamline its business processes. One important goal of this transformation is to ensure rapid and effective support for countries as they undertake climate-friendly development, and as they work to meet their Nationally Determined Contributions under the Paris Agreement.
The report looks at two particular aspects of 2016’s advancement:
The report also introduces an understanding of the purpose and use of preparation grants under CIF, an important bulwark for African countries as they seek additional funding for climate programs beyond the CIF support. And finally, the report also provides access to important knowledge achieved during the year.
We hope this report offers you new insights and adds to the growing knowledge base on how to speed up and ramp up climate-smart development.