NDF - Financing for climate change and development projects

NDF at COP22 in Marrakesh

Nordic Pavilion
Norwegian member of parliament, Heikki Holmås, and Finnish member of parliament Satu Hassi, both former ministers responsible for international development, and NDF managing director Pasi Hellman.
Steen Gade, ex-parliamentarian from Denmark, moderating the discussion.
Aage Jørgensen, NDF, delivering a video message.

At the ongoing climate summit in Marrakesh, Morocco, NDF presents its activities and achievements in selected climate finance events, together with its co-financing partners, and with particular focus on Nordic climate solutions.

At a side event organised by the Nordic Council, the parliamentary assembly of the Nordic countries, on Tuesday, discussions focused on climate investments and resilience in African LDCs. The African Development Bank (AfDB) and its newly-appointed Vice President Amadou Hott first outlined the needs and justification for significant climate investments in Africa. Two Nordic parliamentarians, both ex-ministers responsible for international development, Satu Hassi and Heikki Holmås, respectively from Finland and Norway, emphasised the need for looking at "climate" and " development" as inseparable from one another, and also the role for public funding from institutions like NDF and AfDB to reduce risks and catalyse investments from private actors.

NDF Managing Director Pasi Hellman explained how NDF has geared its strategic orientation to target just this type of objectives, and provided concrete examples how NDF has succeeded in this work in such areas as climate resilient infrastructure development, green finance, and innovative climate projects. The long-standing collaboration between NDF and AfDB has been instrumental in this work. Also, international recognitions, particularly by the UNFCCC, to NDF-funded activities were well noted by the event participants.

The event showcased how Nordic public funding, various Nordic bilateral and joint efforts, and Nordic solutions in general can be used, and adapted when necessary, when addressing the needs of the poor populations in remote and urban areas in African countries.

Another side event organised by The World Bank, African Union Commission, AfDB, and United Nations Economic Commission for Africa focused on the establishment of the African Climate Resilient Investment Facility (AFRI-RES). AFRI-RES will build the knowledge and capacity required to develop long-lived infrastructure in Africa capable of functioning optimally under changing climate conditions. AFRI-RES will be an African-based facility working from within established policy institutions on the continent. NDF's Country Program Manager Aage Jørgensen explained how AFRI-RES will adopt the results and methods developed in an earlier NDF-WB project and move them forward in practical and relevant ways so they can be used to assist African governments, planners and private developers to integrate climate change in project planning and design. He further mentioned that NDF is actively participating in the preparatory discussions for the AFRI-RES Facility and that financing to the Facility has been earmarked in the NDF project pipeline.