The Africa Finance Corporation (AFC) and the Green Climate Fund (GCF) have launched a $690 million program aimed at enhancing climate resilience in four African countries. The program, which was announced on October 30, 2026, in South Korea, will initially benefit Angola, Benin, Côte d'Ivoire, and Nigeria. This initiative seeks to address the significant challenge of financing adaptation and transition projects in Africa.
According to estimates, Africa requires approximately $3,000 billion to adapt to climate change and mitigate its effects. The GCF has announced over $4 billion in additional resources for climate investments, with nearly 40% expected to benefit the continent. The program aims to support 5.2 million beneficiaries through adaptation actions in clean energy, health, food and water security, and resilient infrastructure.
The program is expected to yield significant results, including the avoidance or reduction of approximately 5.78 million tons of CO2 equivalent over its lifetime. The GCF is providing $280 million in funding, which will be complemented by substantial co-financing. Additionally, a parallel trade facility of up to $260 million over a maximum of ten years will support the program.
Samaila Zubairu, President and CEO of the AFC, emphasized the importance of developing infrastructure that can support growth while withstanding the impacts of climate change. Catherine Koffman, Regional Director for Africa at the GCF, noted that the program will help these countries transform their climate priorities into bankable projects.
The program's focus on climate resilience and adaptation is critical for the four beneficiary countries. Benin, Côte d'Ivoire, and Nigeria are among the countries most vulnerable to the impacts of climate change in West Africa. The program's success could serve as a model for other countries in the region.
The AFC and GCF's collaboration on this program demonstrates their commitment to supporting Africa's climate agenda. The two organizations have a history of working together to mobilize climate finance and support sustainable development in Africa.
The launch of this program is a significant step towards achieving the goals of the Paris Agreement and the Sustainable Development Goals. As the program unfolds, its impact will be closely watched by stakeholders across the continent.
Key points
- The program aims to support 5.2 million beneficiaries and reduce 5.78 million tons of CO2 equivalent over its lifetime.
- The GCF is providing $280 million in funding, with additional co-financing expected.
- The program will focus on adaptation actions in clean energy, health, food and water security, and resilient infrastructure.
