African Development Bank
AfDB
The African Development Bank (AfDB), headquartered in Côte d’Ivoire, is an international entity established in Africa during the 1960s with the objective of supporting the economic development and social progress of countries in Africa by promoting investment of public and private capital in projects and programmes that aim to reduce poverty and improve living conditions. AfDB’s strategy for 2013–2022 focuses on two objectives: improving the quality of Africa’s growth; and the transition to green growth. As part of its objective to transition to green growth, AfDB undertook important initiatives to address climate change in Africa through the implementation of a five-year climate change action plan from 2011 to 2015, including the mobilization to date of approximately US$ 6.5 billion including from external sources, resulting in over 80 climate-resilient projects and almost 90 low-carbon development projects in Africa. AfDB committed to invest US$ 9.6 billion for climate finance in Africa by the end of 2015. Its adaptation activities includes activities relating to agriculture, rural living conditions, water resources and forests, while its mitigation activities focus on sustainable transport, renewable energy and energy efficiency, and sustainable land-use systems. With the accreditation to the GCF, AfDB sought to contribute to the objectives of the GCF by: catalysing impact beyond a one-off investment; ensuring environmental, social and economic co-benefits, as well as gender and youth-sensitive development impacts; addressing vulnerability; and being country-driven and country-owned.
Accreditation timeline
Accreditation date
06 Mar 2016
AMA execution date
08 Nov 2017
AMA effectiveness date
07 Nov 2019
Entity details
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Size
- Micro
- Small
- Medium
- Large
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Environmental and social risk category
- Category C
- Category B
- Category A
- Intermediation 3
- Intermediation 2
- Intermediation 1
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Fiduciary standards
- Basic
- Project management
- Grant award
- On-lending/blending:
- Loan
- Equity
- Guarantee
- Blending
Projects
Documents
Pages
News + Stories
GCF and AfDB sign key agreement on transformative energy transition programme
15 Sep 2022 / GCF and the African Development Bank (AfDB) have signed a critical agreement to advance the implementation of a transformative programme, Desert to Power G5 Sahel Facility, which will support least developed countries in the Sahel region of Africa in their energy transition and access. The agreement was executed 2nd September 2022. The USD 1 billion project will leverage blended financing from the AfDB and the private sector for large-scale solar generation with over USD 150 million in approved GCF financing.
Green Climate Fund and its partners launch the Alliance for Hydromet Development
10 Dec 2019 / Twelve international organisations providing assistance to developing countries came together at COP25 today to launch the Alliance for Hydromet Development. As a founding member, the Green Climate Fund (GCF) joined the Alliance to unite efforts to close the capacity gap on early warnings and climate information by 2030.
GCF and AfDB partner to increase renewable power in Zambia
21 Nov 2019 / The Green Climate Fund (GCF) and the African Development Bank (AfDB) are working together to support a USD 154.0 million renewable energy financing framework in Zambia. Historically, Zambia has relied on hydropower generation for 90% of its energy needs. Since 2015, Zambia has faced challenges in meeting the country’s electricity demand – a challenge that is exacerbated by climate-induced droughts that limit hydroelectric generation.
Adaptation Fund, Green Climate Fund Convene First Community of Practice Meeting of Direct Access Entities to Climate Finance
04 Jun 2019 / In an effort to accelerate and enhance Direct Access to climate finance for developing countries that are vulnerable to climate change, the Adaptation Fund (AF), Green Climate Fund (GCF), African Development Bank (AfDB) and South African National Biodiversity Institute (SANBI) are joining forces to facilitate a meeting of more than 30 accredited implementing entities from both AF and GCF in Durban, South Africa June 5-7.
