Agreement signed to accelerate energy access across Eastern and Southern Africa
A landmark regional programme to expand clean and affordable energy access across Eastern and Southern Africa has moved into implementation following the signing of a Funded Activity Agreement (FAA) between the Green Climate Fund (GCF) and the World Bank.
The ASCENT‑GREEN (Accelerating Sustainable & Clean Energy Access Transformation) project, approved by the GCF Board in March 2026, will provide USD 250 million in GCF financing as part of the overall Mission 300 initiative to connect 300 million people in sub‑Saharan Africa to electricity by 2030.
The GCF financing will line up alongside USD 445 million in co‑financing from the World Bank Group, creating a USD 695 million blended finance platform. This structure is expected to mobilise a further USD 521 million in private‑sector investment, particularly in fragile and remote contexts where access to affordable clean energy remains limited.
Mafalda Duarte, GCF Executive Director, said: "There is no development or climate transition without energy access, and no energy access for the hardest-to-reach without capital willing to take the first risk.
“That is what the Green Climate Fund brings to ASCENT-GREEN. Our USD 250 million is structured to crowd in over a billion dollars more from the World Bank, private investors, and other partners, reaching 21 countries and more than 40 million people who have been waiting too long for energy access and clean cooking. ASCENT-GREEN is one of the largest single programmes under Mission 300, and it shows what finance for development and climate does best."
Ndiamé Diop, World Bank Vice President for Eastern and Southern Africa, said: “Electricity is the foundation of economic growth and jobs. Without power, there are no lights to study by, no machines to manufacture with, no cold chains to get food to market.
“Our collaboration with GCF shows Mission 300’s partnership model at its best: blending public and private finance to rapidly connect millions of people to affordable electricity, clean cooking and productive uses of energy, including rural households in fragile, conflict-affected communities.”
ASCENT-GREEN integrates distributed renewable energy, clean cooking solutions and productive‑use technologies into a single platform spanning 21 countries across Eastern and Southern Africa.
By incentivising private‑sector participation, ASCENT‑GREEN is expected to deliver electricity access to 25 million people, provide clean cooking solutions to 12 million people, and enable productive‑use energy services for five million farmers and small and medium‑sized enterprises, supporting livelihoods and climate‑resilient economic growth.
GCF worked closely with partners to ensure a strong regional approach with balanced single‑country allocations and robust implementation arrangements. The World Bank will act as the Accredited Entity, working alongside implementing partners including the Eastern and Southern African Trade and Development Bank (TDB) and the Common Market for Eastern and Southern Africa (COMESA).
In addition to advancing energy access, ASCENT‑GREEN supports the African Continental Free Trade Area by strengthening climate‑resilient supply chains, enabling low‑carbon value chains and helping economies withstand climate‑related shocks that disrupt production and trade.
Over the long term, the programme is expected to deliver more than 20 million tonnes of CO₂‑equivalent in avoided emissions, while helping countries build the institutional and technical capacity to participate in carbon markets under Article 6 of the Paris Agreement.
The signing ceremony took place on the margins of the Mission 300 event during the Africa Forward Summit, in Nairobi, Kenya, organised by the Agence Française de Développement (AFD).