The Africa Sovereign Climate Facility (“ASCF”)

Angola, Benin, Côte d'Ivoire and Nigeria face rising temperatures, erratic rainfall, drought, floods and sea-level rise that threaten food and water security, livelihoods, energy systems and infrastructure. Limited fiscal space, high financing costs and weak climate integration in national planning hold back investment-ready climate projects.

The facility will help four governments identify, prepare and finance climate-aligned sovereign investments. A GCF grant will fund technical assistance to refine priority projects against eligibility criteria, integrate climate into macroeconomic and fiscal planning, and strengthen monitoring. GCF and Africa Finance Corporation loans, passed through ministries of finance, will then fund projects in energy transmission, distribution and storage, renewable energy access, food systems, water supply and sanitation, and climate-resilient infrastructure.

The facility applies eligibility criteria and blended finance to develop replicable models. Its indicative pipeline was built in consultation with each country's ministry of finance and aligned with national climate strategies, which supports country ownership.