Mitigation Project Proposals for the African Development Bank Fund – Calls for Proposals
The African Development Fund (ADF) has unveiled the second invitation for proposals via its Climate Action Window (CAW) at the 59th Annual Meetings of the Board of Governors of the African Development Bank Group in Nairobi.
This effort seeks to assist 37 low-income and vulnerable African nations in securing climate finance to address the effects and challenges posed by climate change.
Context
Establishment of the Climate Action Window
The inception of the CAW occurred during the 16th replenishment of the African Development Fund (ADF-16) with the aim of providing financial assistance to African nations most impacted by climate change. This funding mechanism plays a pivotal role in enabling these countries to enhance their resilience to climate-related challenges and advance sustainable development goals.
Initial Call Achievements
Strong Response
The first call for proposals under the CAW witnessed a robust response, with 359 eligible submissions totaling $4 billion. This enthusiastic participation underscores the urgent need for climate adaptation and mitigation initiatives throughout Africa.
Financial Assistance
During the inaugural donor meeting, African Development Bank Vice-President Kevin Kariuki highlighted the approval of $13.3 million from the Bank’s net income for the CAW, demonstrating the institution’s dedication to climate action.
Don’t miss out on the application deadline which is July 8, 2024, at 11:59 GMT.
Scroll down and click on the official link to apply.
The Climate Action Window (CAW) is allocating around $64 million for this call, with individual project or program funding ranging from $3 million to $5 million, potentially varied based on the recommendations of the evaluation committee. Africa’s climate financing needs are substantial, estimated at $277 billion, necessitating innovative financial instruments like guarantee mechanisms and sustainable hybrid bonds. The African Development Bank has committed to dedicating at least 40% of its annual investments, approximately $25 billion from 2020 to 2025, to climate finance, demonstrating significant progress with a commitment of $5.85 billion in 2023. Vice-President Kariuki expressed appreciation to founding donor countries—Netherlands, Germany, Switzerland, and the United Kingdom—for their support. The projects cover various sectors such as agriculture, water security, early warning systems, green finance, and resilient infrastructure, representing the largest adaptation project portfolio in Africa.
