FP095

Transforming Financial Systems for Climate

Transforming Financial Systems for Climate

  • Status Under implementation
  • Date approved 20 Oct 2018 at B.21
  • Est. completion 28 Oct 2026
  • ESS Category Intermediation 1

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 - 605 days so far

FAA effective

28 Oct 2019

Disbursement - USD 609,756

24 Feb 2021

Disbursement - USD 24,390,244

24 Feb 2021

Completed

28 Oct 2026 - 1,953 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 financing3% disbursed

InstrumentAmount
LoanUSD 254,878,048
GrantUSD 37,804,878
Total GCF Financing
USD 292,682,926

Cofinancing

CofinancerInstrumentAmount
Co-FinancingLoanUSD 495,121,951
Co-FinancingGrantUSD 8,536,585
Total Co-Financing
USD 503,658,536

GCF Contacts

General media inquiries

GCF Communications
Phone +82 32 4458 6338 (KST)
Send e-mail

Request for information

GCF Information Disclosure
Request information about this project

Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6485 (KST)
File a complaint

Integrity issues

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

Accredited Entity

Agence Française de Developpement
Mrs Celine Thoniard
Climate Finance Expert
Phone +33 01 53 44 35 91
thoniardc@afd.fr
Mr Robin Marchal
Delegated External Funds Expert
Phone +33 01 53 44 34 18
marchalr@afd.fr
More contacts

National Designated Authority

Morocco
Ministry of Energy, Mining and Sustainable Development, Secretariat of State for Sustainable Development
Mr. Bouzekri Razi
Director of Climate Change, Biodiversity, and Green Economy
Benin
Ministry of Living Environment and Sustainable Development
Mr. Martin Pépin Aïna
Director General, Division of Climate Change
01 BP 3502 - 01 BP 3621, Cotonou, Benin
Phone +229 96613936
marnickson@yahoo.fr
maina@gouv.bj
Mr. Théodore Cossi 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)
Mr. Paul Tchawa
Secretary General
Boulevard du 20 Mai, Immeuble Ministériel No. 2, P.O Box 320, Yaoundé, Cameroon
Phone +237 696 939 011
ptchawa@yahoo.fr
Côte d'Ivoire
Directorate for the Fight against Climate Change, Ministry of Environment and Sustainable Development
Mr. Kouadio Kumassi Philippe
Deputy Director of Climate Change
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Cote d'Ivoire
Egypt
Ministry of Environment
Eng. Sherif Abdel El-Rehim
Head of the Central Department for Climate Change, Egyptian Environmental Affairs Agency
Kenya
The National Treasury
Mr. Julius Muia
Principal Secretary
Treasury Building, Harambee Avenue, P.O Box 30007-00100, Nairobi, Kenya
Phone +254 20 224 0051
ps@treasury.go.ke
Mr. Peter Odhengo
Senior Policy Advisor, Climate Finance
Phone +254 722 984992
odhengo@gmail.com
Mr. Hillary Korir
Economist
Mauritius
Ministry of Finance and Economic Development
Mr. Mahess Rawoteea
Director of Development Cooperation Directorate
Ministry of Finance, Economic Planning and Development, Ground Floor, Government House, Port Louis, Mauritius
Phone 230 201 3900
mrawoteea@govmu.org
Mrs. Usha Beegun-Ramduny
Lead Analyst, Resource Mobilisation Cluster
Phone 230 260 1348
ubeegun-ramduny@govmu.org
Namibia
Ministry of Environment and Tourism
Mr. Paulus Ashili
Mr. Timoteus Mufeti
Mr Petrus Muteyauli
Deputy Director, Multilateral Environmental Agreements, Department of Environmental Affairs
Ministry of Environment and Tourism, Private Bag 13306, Windhoek, Namibia, Windhoek, Namibia
Nigeria
Federal Ministry of Environment
Mrs. Halima Bawa-Bwari
Deputy Director and Overseeing Head, Department of Climate Change
Plot 444, Aguiyi Ironsi Way, FCT, Abuja, Nigeria
Phone +234 803 311 9734
halimabawab@yahoo.com
South Africa
Department of Forestry, Fisheries, and the Environment
Ms. Nomfundo Tshabalala
Director General
Phone +27 12 339 9007
DG@environment.gov.za
Ms. Shahkira Parker
Senior Policy Advisor: International Governance Management
Ms. Lucia Motloung
Mr. Zaheer Fakir
United Republic of Tanzania
Vice President's Office
Ms. Mary N Maganga
Permanent Secretary
P.O.Box 2502, Dodoma, Tanzania
Togo
Directorate of Environment, Ministry of Environment
Mr. Esso-Sam Abdou Rassidou Agrignan
Economist Manager, in charge of financial services
Phone +228 2221 3321
Phone +228 9028 0426
ragrignan80@yahoo.fr
denv_togo@yahoo.fr
Uganda
Ministry of Finance, Planning and Economic Development
Mr. Keith Muhakanizi
Permanent Secretary / Secretary to the Treasury
Phone +256 414 707 135
keith.muhakanizi@finance.go.ug
Mr. Andrew Masaba
Principal Economist / Climate Finance Desk Officer, Development Assistance and Regional Cooperation
Ecuador
Ministry of Environment and Water
Ms. Karina Maribel Barrera Moncayo
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
Senegal
Ministry of Environment and Sustainable Development
Ms. Madeleine Diouf Sarr
Head of Climate Change Division
Parc Forestier de Hann, B.P. 4055 Dakar, Senegal, Dakar, Senegal
Burkina Faso
Prime Ministry
Mr. 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
Ms. Lovakanto Ravelomanana
Director of the National Office for Climate Change Coordination
B.P 3948, Rue Toto Radola - Antsahavola, Antananarivo, Madagascar

Documents

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.