AfDB Launches Facility to Unlock Climate Finance for Vulnerable Regions

Arthur Eriye

In a bid to address Africa’s climate finance gap, the African Development Bank Group has launched a new funding call that will transform the development of climate projects across 37 low-income African countries.

With an initial allocation of $56 million, the Climate Action Window (CAW) Technical Assistance Facility, launched at COP29 in Baku, Azerbaijan, will support the preparation, financing, and implementation of adaptation and mitigation projects aligned with the Paris Agreement, Nationally Determined Contributions (NDCs), and National Adaptation Plans (NAPs).

At the launch, Cote d’Ivoire’s Minister of Environment and Sustainable Development Assahoré Konan Jacques, welcomed the new initiative. He said, “I would like to thank the African Development Bank and its partners, as these funds will finance the resilience of our people. Specific activities have been identified and targeted, and I call on the African Development Bank to learn from the challenges other funds have faced, ensuring that CAW succeeds where others have struggled.”

The Chad Minister for Economy and Planning, Mrs. Fatima Haram Acyl, stressed that: “For countries like Chad, climate vulnerability is not just a term. Our people face floods, droughts, and immense losses, and we need real, fast-acting solutions. The CAW presents an opportunity to deliver transformative projects that strengthen our communities’ resilience.”

Madagascar’s Minister of Environment, Max Andonirina Fontaine, noted: “The CAW enables African nations to pilot initiatives that truly address our needs. With its flexible approach, we can, for example, fund ecotourism projects in Madagascar that both protect forests and create jobs—support that Africa urgently needs.”

The Head of the Private Sector and Capital Markets Department at the Foreign Commonwealth and Development Office (FCDO), Ms. Louise Walker, emphasized the UK’s commitment. “There is no pipeline like this in Africa. We invite other partners to join and surpass our contribution, setting a new benchmark for climate finance,” she said.