ACCF grants US $0.8 million to enhance climate finance readiness in Côte d’Ivoire and to make two transboundary projects climate-resilient
The Africa Climate Change Fund (ACCF) announced on May 3 the approval of two technical assistance projects totaling US $0,8 million that will strengthen the capacity of Côte d’Ivoire to access climate finance and integrate climate resilience into two transboundary projects in Togo and Benin and in Zambia and Zimbabwe.
A grant of $430,000 will support Côte d’Ivoire in enhancing its capacity to mobilize international resources to fight against climate change. The country’s major development sectors are subject to very high climate vulnerabilities that already resulted in important economic losses and negative impacts in the local populations. The agricultural production has dropped significantly due to heavy crop losses related to seasonal disturbances and the country has also registered strong coastal erosion and flooding in the recent years. Given the magnitude of the challenges, Côte d’Ivoire seeks to develop climate finance readiness activities that will improve the ability of the country to attract climate finance.
The project will be implemented by the Ministry of Environment and Sustainable Development and shall develop and structure two specific projects that will be submitted to international climate funds (Green Climate Fund and Adaptation Fund). The project will further strengthen national capacities by providing capacity building to key national government officials in design, project management and mobilization of climate finance. Finally, the project will also finance a study aimed at identifying, within the Ivorian institutional framework, national institutions with the potential to become accredited as implementing agencies of the Green Climate Fund.
A second grant of $347,000 will focus on enhancing knowledge and capacity and facilitating partnerships for climate-proofing African infrastructure projects, as well as promoting climate-resilient infrastructure development in two transboundary projects. A component of the Abidjan-Lagos Coastal Corridor road infrastructure project in Togo and Benin, which is vulnerable to the impacts of climate change, particularly floods, sea level rise and coastal erosion, will be climate-proofed. In addition the project will integrate climate change resilience into the Batoka Gorge Hydropower project, a strategically important project for Zambia and Zimbabwe that will provide clean and reliable electricity supply.
The grant will also strengthen the capacity of 100 policy-makers from the Economic Community of West African States (ECOWAS) and Southern African Development Community (SADC) in integrating climate risks resilient measures in projects from energy and transportation sectors. Finally, the grant will facilitate partnerships between international financial institutions and facilities that promote the development of climate-resilient infrastructure in the region and the African countries.
The announcement brings to eight the total number of ACCF projects approved since the Fund’s establishment in 2014, totaling $3.3 million. Previously approved projects include one continent-wide project as well as projects in Mali, Cabo Verde, Swaziland, Tanzania (Zanzibar), and Kenya.
About Africa Climate Change Fund
The Bank-managed ACCF was established in April 2014 with a EUR 4.725-million contribution from Germany with the objective to scale up climate smart development in African countries by increasing the mobilization of international climate finance. It provides support for activities ranging from strengthening capacity of African institutions to access and manage climate finance, to developing impactful projects and programs that will attract climate finance from the Green Climate Fund and other sources.