News

AfDB, GEF Discuss Project Portfolio

15 April 2011: The African Development Bank (AfDB) and the Global Environment Facility (GEF) held a two-day strategy meeting to discuss new programming opportunities in Africa, including programmatic approaches to the challenges of the Lake Chad Basin.

Participants discussed how to improve accessibility to GEF environment funds through AfDB investments in client countries. As a GEF Agency, the AfDB has the opportunity to leverage its investment portfolio as a means of supporting countries who seek to implement the Conventions for which the GEF serves as financial mechanism. During the meeting, presentations included specific examples of approved projects to demonstrate the principles and practices of GEF operations, such as country-ownership, incremental reasoning, cost-effectiveness, and sustainability. Presentations also highlighted that, on average, for each GEF grant dollar, GEF is able to attract five US dollars in co-financing.

The workshop was opened by Hela Cheikhrouhou, AfDB Energy, Environment and Climate Change Department Director, and chaired by Kurt Lonsway, AfDB Environment and Climate Change Manager. The second day was devoted mainly to a “projects clinic” and one-on-one discussions between the GEF delegates and AfDB operational staff and task managers from the energy, transport, water, private sector, agriculture and health sectors. [GEF Press Release]