African Leaders Welcome Launch of African Development Bank’s Climate Finance Facility at COP29
The African Development Bank (AfDB) has launched the Climate Action Window (CAW) Technical Assistance Facility at COP29. With an initial $56 million allocation, the facility aims to support climate adaptation and mitigation projects across 37 low-income African countries.
These projects will align with the Paris Agreement, Nationally Determined Contributions (NDCs), and National Adaptation Plans (NAPs).
The initiative, established under the AfDB’s 16th replenishment cycle, focuses on mobilizing resources for adaptation (75%), mitigation (15%), and technical assistance (10%) to enhance the capacity of low-income African countries to attract climate finance.
The launch was celebrated by key African leaders, including Assahoré Konan Jacques, Minister of Environment and Sustainable Development of Cote d’Ivoire, who emphasized the importance of targeted actions to ensure the fund’s success.
Fatima Haram Acyl, Chad’s Minister for Economy and Planning, highlighted the urgency of addressing the climate challenges facing vulnerable nations, citing floods and droughts. “The CAW presents an opportunity to deliver transformative projects that strengthen our communities’ resilience,” she stated.
Max Andonirina Fontaine, Madagascar’s Minister of Environment, applauded the flexible approach of the facility, which could support initiatives like ecotourism projects that protect forests while creating jobs.
The launch was also supported by significant funding commitments from international partners, including the United Kingdom, Netherlands, Germany, and Switzerland. Louise Walker, Head of Private Sector and Capital Markets at the UK’s Foreign Commonwealth and Development Office (FCDO), urged other partners to join the initiative, setting new benchmarks for climate finance in Africa.
Dr. Kevin Kariuki, AfDB’s Vice President of Power, Energy, and Climate Change, described the CAW as a crucial tool for helping African nations meet their global climate commitments. With a robust project pipeline, including 80 identified adaptation projects valued at $800 million, the facility is set to ensure that Africa’s most vulnerable regions attract significant climate funding.
The CAW already has 41 projects funded, and its collaboration with major climate funds like the Green Climate Fund (GCF) and Global Environment Facility (GEF) demonstrates its effectiveness in mobilizing co-financing.
The facility is now open for proposals from governments, regional organizations, NGOs, and UN agencies in African Development Fund (ADF) countries. The application deadline is February 5, 2025, with awards ranging from $260,000 to $1.3 million per project.
For more information, visit the CAW online portal or contact the CAW Secretariat at climateactionwindow@afdb.org.
