AfDB report shows projects underway in Africa to reduce nearly 7 million
tonnes CO2, create more than a million new electricity connections in Africa
with AfDB and CIF support
The African Development Bank's Financing Change: The AfDB and CIF for a Climate-Smart
Africa is the Bank's second semi-annual report on its work to implement the
Climate Investment Funds (CIF) in Africa, covering July-December 2012 and
can be found here: http://bit.ly/XMe1gc.
The report showcases expected results from projects underway in Kenya,
Morocco, Mozambique, Niger and South Africa backed by US $420 million CIF
funding and US $1.1 billion of the Bank's own funding. Through the eight
projects under implementation, it is expected that 6.9 million tonnes of CO2
emissions will be avoided every year, 1.3 million households and businesses
will get new access to power, nearly 42,000 hectares of land will be newly
dedicated to climate-resilient activities, and 150,000 farmers will gain
access to climate information, including 50,000 women farmers and 3,000
villages.
A publication of the African Development Bank's Energy, Environment and
Climate Change Department (ONEC), the report features a review of the Bank's
support to 17 African countries through its CIF portfolio, which is
channeling US $1 billion - more than a third of all CIF investment in Africa
- to Africa, with the Energy, Environment and Climate Change Department
leading the institutional charge.
The report also highlights the work underway with the AfDB and other CIF
partners and stakeholders to continue improving the CIF's effectiveness -
exploring new tools and mechanisms, enhancing and simplifying the approach
to measuring results, and brokering climate knowledge from the national to
the global stage.
Distributed by the African Press Organization on behalf of the African
Development Bank.
About the Climate Investment Funds (CIF)
Established in 2008 as one of the largest fast-tracked climate financing
instruments in the world, the US $7.6 billion 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. Five MDBs - the
African Development Bank (AfDB), Asian Development Bank (ADB), European Bank
for Reconstruction and Development (EBRD), Inter-American Development Bank
(IDB), and World Bank Group (WBG) - implement CIF-funded projects and
programs.