Financial contributions to the African Climate Change Fund

Duration: 2017-2018

Budget: 2.000.000 euro

According to a study by Climate Policy Initiative in 2013-2014, only 3% of the global climate financing goes to Sub-Sahara Africa. This contrasts with the fact that Sub-Saharan Africa is the region with the lowest contribution to climate change and at the same time has the highest vulnerability to climate change impact. It is known that these countries find it more difficult to raise climate finance. A privileged witness of a developing country described the current catch-22 as follows: "We can not access climate finance if we are not ready, but how can we be ready if we can not access finance?"

By working with the African Climate Change Fund of the African Development Bank (AfDB), Flanders wants to contribute to unblocking the current tension between needs and available financing in Africa. This is possible by providing technical assistance to 'prepare' African countries for public climate finance and private investment climate, enabling them to attract those funds. A relatively small investment in technical assistance may result in African countries gaining access to millions of dollars from private and public climate funds. The resources should allow African countries to bring policy and investment more closely to the growing climate challenges on the continent.