NDF - Financing for climate change and development projects

Climate finance readiness in Africa

Passenger ferry in Maputo Bay (Photo: Aage Jørgensen)

World Bank (WB) is partnering with the Nordic Development Fund (NDF) to support climate finance readiness in Sub-Saharan Africa.

The climate finance flows to Sub-Saharan Africa are smaller when compared to other continents. This is mainly due to the region’s lack of readiness and capacity to access international climate finance, the cumbersome procedures of some funds, as well as the limited capacity of African countries to negotiate international climate deals that could benefit the continent.

The fact that Africa benefited very little from the Clean Development Mechanism (CDM) demonstrates the need for the continent to get ready for climate finance and scale it up for the benefit of sustainable development. Significant new climate finance resources are expected to be channelled through the Green Climate Fund (GCF) that has recently been established and currently is starting a process to be capitalised.

NDF is financing together with WB and GIZ a project that will use the recent 17th replenishment of the World Bank’s International Development Association (IDA17) as mechanism to build climate readiness and develop individual countries’ capacity to gain access to international climate financing.

The project will provide practical programming experiences and capacity development as a contribution to enhance the region’s readiness for climate action: something which will become increasingly important as new dedicated climate finance resources (e.g. Green Climate Fund) will start to become available.

More Information
NDF C70 Africa Regional: Climate Financing Readiness in Africa