The African Development Fund (ADF) announced the second call for proposals through its Climate Action Window (CAW) during the 59th Annual Meeting of the Board of Governors of the African Development Bank Group, held in Nairobi. This initiative aims to support 37 vulnerable and low-income African countries in accessing climate finance to combat the impacts and shocks of climate change.<\/p>\n\n\n\n
The CAW was created during the 16th replenishment of the African Development Fund (ADF-16) to provide financial support to the African nations most affected by climate change. This fund is key to helping these countries step up their climate resilience efforts and promote sustainable development.<\/p>\n\n\n\n
The initial call for proposals under the CAW received a substantial response, with 359 eligible proposals worth 4 billion dollars. This overwhelming interest underlines the pressing need for climate adaptation and mitigation projects across Africa.<\/p>\n\n\n\n
During the first donors' meeting, the Vice-President of the African Development Bank, Kevin Kariuki, highlighted the approval of 13.3 million dollars of the Bank's net income for the CAW, reflecting the Bank's commitment to climate action.<\/p>\n\n\n\n
The second call for proposals will emphasise climate mitigation projects designed to reduce or avoid greenhouse gas emissions. These initiatives are crucial if Africa is to progress towards net-zero emissions and tackle the adverse effects of climate change.<\/p>\n\n\n\n
The call is open to a wide range of participants, including government entities, ministries, departments, agencies, African Development Bank departments, non-governmental organisations, community organisations and intergovernmental organisations.<\/p>\n\n\n\n
CAW is allocating approximately US$ 64 million for this call. Funding requests for individual projects or programmes can range from US$ 3 million to US$ 5 million, with the possibility of exceptions based on the recommendations of the independent evaluation committee.<\/p>\n\n\n\n
Africa faces significant climate finance needs, estimated at around 277 billion dollars. Innovative financial tools, such as guarantee mechanisms and sustainable hybrid bonds, are essential to fulfil these requirements.<\/p>\n\n\n\n
The African Development Bank has committed to allocating at least 40% of its annual investments, approximately 25 billion dollars from 2020 to 2025, to climate finance. In 2023, the Bank earmarked 5.85 billion dollars for this objective, demonstrating strong progress.<\/p>\n\n\n\n
Vice-President Kariuki expressed his gratitude to the founding donor countries - the Netherlands, Germany, Switzerland and the United Kingdom - for their support and belief in the ADF's vision.<\/p>\n\n\n\n
The projects cover various sectors, including agriculture, water security, early warning systems, green finance and resilient infrastructure. These initiatives represent the largest set of adaptation projects on the continent.<\/p>\n\n\n\n
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