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 CIF in Africa, covering July-December 2012.
In its fourth year, the CIF has seen a shift in its activity. The tremendous amount of time and effort to craft strategic, multi-dimensional investment plans is paying off as countries start active implementation of their CIF-backed programs. The 2012 CIF Annual Report sheds light on how the CIF is creating the climate for change in 49 nations.
The CIF has received an additional US$246 million from contributor countries Denmark, Norway, Sweden, Switzerland and the United Kingdom. The financing will create opportunities for developing countries to strengthen their planning and investment strategies for climate resilience, access renewable energy and pursue low carbon, sustainable development.
Building on its Kenyan experience in the East African Rift Valley with the Menengai geothermal project (financed in part by the SREP), the African Development Bank is working on an ambitious geothermal development program for Africa.
US$ 8 million from the Clean Technology Fund managed by the EBRD will help finance a new waste-to-energy plant in Aktau, the first of its kind in Kazakhstan. Landfill waste will be reduced by about a half. And less waste means less pollution – an obvious benefit to both the environment and Aktau’s citizens.
Indonesia’s Pertamina Geothermal Energy is mandated to develop 1,000 MW of geothermal capacity, which would be the largest expansion in the world by a single company. World Bank is helping PGE kick-start its ambitious program through a $175 million IBRD loan, along with concessional financing of $125 million from the CTF.
In the Washington Post Opinions, World Bank President Jim Yong Kim highlights the CIF as an important contributor to managing forests, spreading solar energy, and promoting green expansion for cities, all with a goal of stopping global warming.
Eastern Caribbean nations of Dominica, Grenada, St. Lucia, and St. Vincent and the Grenadines are working together to build regional climate resilience through enhanced risk assessments, climate-smart infrastructure, and data sharing and management.
During the 2012 CIF Partnership Forum in Istanbul, Turkey on November 6 and 7, Mafalda Duarte, CIF Coordinator for the AfDB, represented the AfDB and other multilateral development banks on a panel discussing civil society participation in the CIF.
At a CIF Partnership Forum event hosted by the African Development Bank on November 7, 2012 in Istanbul, a panel of speakers considered key points underpinning private sector investment in CIF operations and lessons from specific countries which have been successful at attracting private sector investment.