The Green Climate Fund is seeking to accelerate climate investment across Africa by helping countries develop stronger pipelines of projects that can attract public and private financing.
The push was highlighted at a regional dialogue in Accra, Ghana, where more than 200 representatives from 25 countries discussed ways to improve access to climate finance and turn national climate priorities into investment-ready projects.
The fund has committed $2.9 billion to 80 projects across West and Central Africa, with a further $5.7 billion in co-financing, taking the region’s total portfolio to $8.6 billion. The region accounts for about 37% of GCF financing in Africa.
The GCF has also unlocked more than $4 billion in additional resources for new climate investments, with Africa expected to receive about 40% of the funding. The new financing is expected to support projects aimed at strengthening climate resilience and expanding low-emission development.
GCF officials said African countries need to improve the preparation of bankable projects if they are to make full use of the available funding. The fund is also working to bring financing closer to countries and reduce delays between project development and approval.
The initiative comes as the GCF begins its third replenishment process, with governments across the region under pressure to scale up climate action while facing limited domestic financing.
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