FP095

Transforming Financial Systems for Climate

Transforming Financial Systems for Climate

Providing loans and technical assistance in 17 developing countries across Africa and Latin America and the Caribbean to create self-sustaining markets in energy efficiency, renewable energy and climate resilience.

The private sector in these two regions still perceives sustainable energy and climate resilience as expensive and complex, as the environmental advantage of more resilient investments and practices is not well understood. Efforts to demonstrate the benefits of financing these areas are required to reach a critical mass and upscale the commercial viability of climate projects.

The main objectives of this programme are to scale up climate finance in the targeted countries, to redirect financial flows, and reinforce the capacity of local partners in climate-related sectors. It will do this by providing loans through local partner financial institutions to borrowers in sustainable energy, energy efficiency, housing, agriculture, forestry and water and waste management. It will also include a technical support component.

The programme has an estimated lifespan of 20 years.

Total project value

 

Tonnes of emissions avoided

 

Beneficiaries

 

Direct
200,000
Indirect
800,000
Theme

Cross-cutting

Result areas

Project timeline

Pipeline

11 Oct 2017 - 375 days

Concept note received

11 Oct 2017

Cleared by GCF Secretariat

20 Oct 2017

Funding proposal received

06 Mar 2018

Cleared by iTAP

17 Mar 2018

Approved

20 Oct 2018 - 374 days

Approved by GCF Board

20 Oct 2018

Legal opinion on AE's Internal Approval

07 Jan 2019

FAA executed

26 Jun 2019

Under implementation

28 Oct 2019 - 123 days so far

FAA effective

28 Oct 2019

Completed

28 Oct 2026 - 2,436 days to go

Two regions

  • Africa
  • Latin America and the Caribbean

Seventeen countries

Three priority groups

  • Least Developed Countries
  • Small Island Developing States
  • African States
USD  
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing

InstrumentAmount
LoanUSD 230,429,988
GrantUSD 34,178,610

Cofinancing

CofinancerInstrumentAmount
Co-FinancingLoanUSD 447,629,547
Co-FinancingGrantUSD 7,717,750

GCF Project Team

General media inquiries

GCF Communications
Phone +82 32 458 7751
Send message

Request for information

GCF Information Disclosure
Request information about this project

Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6157
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6155
Send e-mail

Accredited Entity

Agence Française de Developpement

Timothée Ourbak
Climate Finance Expert
AFD, 5 rue Roland Barthes, Paris, France
Phone +33 1 5344 6356
ourbakt@afd.fr
Estelle Mercier
Climate Finance Expert

National Designated Authority

Morocco

Ministry of Energy, Mining and Sustainable Development, Secretariat of State for Sustainable Development

Bouzekri Razi
Director of Climate Change, Biodiversity, and Green Economy
Benin

Ministry of Living Environment and Sustainable Development

Martin Aïna
Director General, Division of Climate Change
01 BP 3502 - 01 BP 3621, Cotonou, Benin
Phone +229 96613936
marnickson@yahoo.fr
maina@gouv.bj
Théodore Domingo
01 BP 3502 - 01 BP 3621, Cotonou, Benin
Phone +229 97764297
stheodorecossi@yahoo.fr
Cameroon

Ministry of Environment, Protection of Nature and Sustainable Development (MINEPDED)

John Tougoulou
Inspector Number 1 of the General Inspectorate
Ministry of Environment, Protection of Nature and Sustainable Development, Boulevard du 20 Mai, Immeuble Minsterial N 2, Porte
Phone 00237 675 194 611
Phone 00237 693 789 334
johntougoulou@yahoo.fr
Côte d'Ivoire

Bureau of Climate Change (BCC), Ministry of Environment and Sustainable Development

Tiangoua Kone
Deputy Director of Climate Change
Phone +225 07 2677 01
tiangoua.kone@yahoo.fr
Egypt

Ministry of Environment

Yasmine Fouad
Minister
30, Misr Helwan El - Zyrae Rd., Maadi - Cairo, P.O. 11728, Egypt
Kenya

The National Treasury

Hillary Korir
Economist
Peter Odhengo
Senior Policy Advisor, Climate Finance
Phone +254 722 984992
odhengo@gmail.com
Julius Muia
Principal Secretary
Treasury Building, Harambee Avenue, P.O Box 30007-00100, Nairobi, Kenya
Phone +254 20 224 0051
ps@treasury.go.ke
Mauritius

Ministry of Finance and Economic Development

Rachna Ramsurn
Senior Analyst, Resource Mobilisation Cluster, Development Cooperation Directorate
Government House, Port Louis, Republic of Mauritius, Port Louis, Mauritius
Phone +230 201 2314
rramsurn@govmu.org
Gerard Bussier
Director, Development Cooperation and International Affairs Directorate
Government House, Port Louis, Republic of Mauritius, Port Louis, Mauritius
Phone +230 201 2485
gbussier@govmu.org
Namibia

Ministry of Environment and Tourism

Petrus Muteyauli
Deputy Director, Multilateral Environmental Agreements, Department of Environmental Affairs
Ministry of Environment and Tourism, Private Bag 13306, Windhoek, Namibia, Windhoek, Namibia
Jonathan Kamwi
Chief Conservation Scientist - Climate Change
Private Bag 13306, Windhoek, Namibia, Windhoek, Namibia
Teofilus Nghitila
Environmental Commissioner
Private Bag 13306, Windhoek, Namibia, Windhoek, Namibia
Nigeria

Federal Ministry of Environment

Yerima Tarfa
Director, Department of Climate Change
Department of Climate Change, Plot 444, Aguiyi Ironsi Way, Green Building Federal Capital Territory, Abuja, Nigeria, Abuja, Nigeria
Phone +234 802 492 0107
Phone +234 813 555 1311
petertarfa@hotmail.com
South Africa

Department of Environmental Affairs

Nosipho Ngcaba
Director-General
Private Bag X447, Pretoria, 0001, South Africa
Phone +27 12 339 9007
Phone +27 12 359 3611
NNgcaba@environment.gov.za
United Republic of Tanzania

Vice President's Office

Joseph Malongo
Permanent Secretary of the Vice President's Office
Makole Road, LAPF Building, 7th Floor, P.O. Box 2502, Dodoma, Tanzania
William Mwegoha
Director of the Division of Environment
Makole Street, 7th Floor LAPF Building, P.O. BOX 2502, Dodoma, Tanzania
Togo

Directorate of Environment, Ministry of Environment

Esso-Sam Rassidou Agrignan
Economist Manager, in charge of financial services
BP: 4825 Lomé-Togo, Lome, Togo
Phone +228 2221 3321
Phone +228 9028 0426
ragrignan80@yahoo.fr
denv_togo@yahoo.fr
Uganda

Ministry of Finance, Planning and Economic Development

Keith Muhakanizi
Permanent Secretary/Secretary to the Treasury (PS/ST), Ministry of Finance, Planning and Economic Development
Phone +256 414 707 135
keith.muhakanizi@finance.go.ug
Masaba Andrew
Senior Economist and Desk Officer for Climate Change Financing, Ministry of Finance, Planning and Economic Development
Ecuador

Ministry of Environment

Steven Petersen
Undersecretary of Climate Change
Calle Madrid 1159 y Andalucia, Quito, Ecuador
Phone (593 2) 398 7600
steven.petersen@ambiente.gob.ec
Senegal

Ministry of Environment and Sustainable Development

Madeleine Sarr
Head of Climate Change Division
Parc Forestier de Hann, B.P. 4055 Dakar, Senegal, Dakar, Senegal
Burkina Faso

Prime Ministry

Issaka Ouedraogo
Adviser to the Prime Minister/Environment Inspector
01 PO BOX 4223, Ouagadougou
Phone +226 70 00 87 69
Phone +226 76 64 95 66
isk.isk22@yahoo.fr
Madagascar

Ministry of Environment, Ecology, Sea and Forests

Lovakanto Ravelomanana
Director of the National Office for Climate Change Coordination
B.P 3948, Rue Toto Radola - Antsahavola, Antananarivo, Madagascar
Phone +261 34 86 793 38
lovakanto@gmail.com

News + Stories

GCF invests USD 270 million to catalyse African climate investment with AFD

26 Jun 2019 / Earlier this week, the Green Climate Fund and the French Development Agency (AFD) signed the agreement which will kick-off the implementation of the “Transforming Financial Systems for Climate” programme. The programme, targeting 17 countries in Africa and Latin America and the Caribbean, seeks to strengthen local financial institutions in the region and boost the private sector’s investments into renewable energy, energy efficiency, and climate resilience projects.