Ghana among African countries to access new Climate Investment Funds

Ghana is among nine African nations chosen to receive new funding and operational support from the Climate Investment Funds, under the CIF’s Scaling Up Renewable Energy in Low Income Countries Program (SREP).

The other countries are: Benin, Lesotho, Madagascar, Malawi, Rwanda, Sierra Leone, Uganda and Zambia – increasing the number of African countries piloting CIF climate-smart investment plans to 25, nearly half of all 55 countries in Sub-Saharan Africa.

This was announced at the semi-annual Climate Investment Funds (CIF) governing body meetings held in Montego Bay, Jamaica.

The African Development Bank (AfDB), one of the CIF’s five implementing agencies, worked with the countries to garner the support and will serve as implementing agency for the countries as they develop their new CIF investment plans.

“This move sends an impressive signal for change,” stated SREP co-chair Erastus Wahome, representative for Kenya, the first country to operationalize a CIF transformational geothermal program in Africa. “The additional donor support for energy transformation is a clear sign of confidence in the success we’ve already seen taking place in low-income countries in Africa and other regions, and a sign of developing countries’ continuing enthusiasm to commit to CIF-style transformation. I am proud that Kenya has helped lead the way for this transformation.”

An independent Expert Group selected the countries from a group of 40 countries expressing interest in joining the SREP. Some of the criteria used to select the countries included low energy access rates, existence of an enabling policy and regulatory environment, renewable-friendly energy development strategies, strong governance capacity, and capacity for implementation.

In their final decision, the SREP Sub-Committee agreed that it would provide up to $300,000 for each country to undertake development of an SREP investment plan.

At the meetings, the governing bodies also welcomed the appointment of Mafalda Duarte, the AfDB CIF coordinator, as the new global Programme Manager of the CIF effective August 4. 

Duarte also weighed in on the significance of the SREP decision, stating, “We are delighted at this vote of confidence and opportunity for starting a process leading up to new transformational investments in low-income countries’ in renewable energy. It is now incumbent on all of us to ensure that the new pilot countries can produce investment plans which are solidly linked to their own development goals and meet CIF criteria. As the new CIF Programme Manager, I am fully ready to ensure effective support to these countries at a level which meets their enthusiasm and commitment.”