AfDB Reports on CIF Projects Implementation
20 January 2013: The Energy, Environment and Climate Change Department (ONEC) of the African Development Bank (AfDB) released the second edition of the Bank's semi-annual report on its Climate Investment Funds (CIF) activities, which showcases expected results from projects underway in Kenya, Morocco, Mozambique, Niger and South Africa.
The report, titled "Financing Change: The AfDB and CIF for a Climate-Smart Africa," assesses the implementation of the CIF in Africa over the period July-December 2012. With US$420 million CIF funding and US $1.1 billion from AfDB, the report focuses on eight ongoing projects in Kenya, Morocco, Mozambique, Niger and South Africa, and anticipates: a yearly reduction of 6.9 million tons of carbon dioxide emissions; the provision to 1.3 million households and businesses of new access to power; the designation of around 42,000 hectares of land for climate-resilient activities; and the provision of climate change information to 150,000 farmers.
It also indicates Burkina Faso and Ghana as next countries to receive funding for climate-resilient projects involving policies for REDD+. Overall, these projects highlight the importance of the integration of climate financing in countries' policies and institutions, and the reduction of investments risks for a transformative low-carbon economy and climate-resilient societies.
The publication highlights that following up on the CIF Partnership Forum in Istanbul, Turkey, in November 2012, AfDB hosted a two-day meeting of international finance institutions and Multilateral Development Banks (MDBs) to analyze improved forms of knowledge-sharing regarding the role that Climate Change Development Policy Operations (CC DPOs) can play in climate-smart pathways. Key lessons from the meeting include: ensuring ownership and balanced institutional set-up; reconciling short-term actions and longer term goals; and improving the quality of results framework. [AfDB Press Release] [Publication: Financing Change: The AfDB and CIF for a Climate-Smart Africa]