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 - 291 days so far

FAA effective

28 Oct 2019

Completed

28 Oct 2026 - 2,268 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 245,882,352
GrantUSD 36,470,588

Cofinancing

CofinancerInstrumentAmount
Co-FinancingLoanUSD 477,647,058
Co-FinancingGrantUSD 8,235,294

GCF Contacts

General media inquiries

GCF Communications
Phone +82 10 4458 7751
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 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

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

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 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 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. 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

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

Ministry of Environment

Eng. Sherif El-Rehim
Head of the Central Department for Climate Change, Egyptian Environmental Affairs Agency
Kenya

The National Treasury

Mr. Peter Odhengo
Senior Policy Advisor, Climate Finance
Phone +254 722 984992
odhengo@gmail.com
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. Hillary Korir
Economist
Mauritius

Ministry of Finance and Economic Development

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

Ministry of Environment and Tourism

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

Federal Ministry of Environment

Dr. 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
United Republic of Tanzania

Vice President's Office

Eng. Joseph Malongo
Permanent Secretary of the Vice President's Office
Makole Road, LAPF Building, 7th Floor, P.O. Box 2502, Dodoma, Tanzania
Togo

Directorate of Environment, Ministry of Environment

Mr. Esso-Sam 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

Mr. Humberto David Re Carrera
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía,, Quito, Ecuador
Senegal

Ministry of Environment and Sustainable Development

Ms. Madeleine 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

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.