Climate Investment Funds - African Development Bank

Donor: 
Any donor
International Finance Institutions
Geographical focus: 
Global
Africa
Thematic focus: 
Tourism in general
Energy in Tourism
Infrastructure in Tourism
Sustainability of natural resources in Tourism
Intro text: 
As part of the AfDB’s commitment to supporting Africa’s move toward climate-smart development, it is helping to expand access to international climate change financing. The AfDB is serving as an implementing agency of the Climate Investment Funds (CIF). Established in 2008 as one of the largest fast-tracked climate financing instruments in the world, the USD 8 billion CIF gives developing countries worldwide an urgently needed jump-start toward achieving low-carbon and climate-resilient development.

Official website

http://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/climate-investment-funds-cif/

Geographic focus

Developing countries in Africa.

Who can apply?

Governments, companies an organizations related to energy, technology and climate change.

Objectives and activities

Objectives: As part of the AfDB’s commitment to supporting Africa’s move toward climate-smart development, the CIF is helping to expand access to international climate change financing. The aim is to blend funding for climate solutions with other MDB, national, and private sector development resources, thereby leveraging substantial additional funds.

Activities: Support for programs in sustainable energy, resilient rural, coastal and forest landscapes, and globally scalable knowledge on low-carbon and climate-resilient solutions.

Examples:

  • Kenya:  improve access to electricity, reduce the cost of supply, and bring substantial economic, social, and environmental co-benefits to local communities.
  • Nigeria: : Bus-based mass transport support for Abuja, Kano and Lagos

Type and level of funding

From 2014 onwards, AfDB is channeling $1 billion for low-carbon and climate- resilient programs and projects. The CIF provides developing countries with grants, concessional loans, risk mitigation instruments, and equity that leverage significant financing from the private sector, multilateral development banks, (MDBs) and other sources.