FP114

Program on Affirmative Finance Action for Women in Africa (AFAWA): Financing Climate Resilient Agricultural Practices in Ghana

Program on Affirmative Finance Action for Women in Africa (AFAWA): Financing Climate Resilient Agricultural Practices in Ghana

Empowering vulnerable women groups in the country’s most vulnerable agricultural zone by improving their participation in low-emission climate resilient agricultural practices

Although women carry out about 70 percent of agricultural activities in Ghana, they often do not have full control over incomes and agricultural products. They also lack access to formal, financing channels.

This programme is an on-lending programme providing credit lines to local commercial banks. These loans will exclusively target micro, small, and medium-sized enterprises (MSMEs) and farmer-based associations led by women to support low-emissions and climate-resilient agricultural practices. It seeks to empower women entrepreneurs through enhanced access to finance. This proposal was selected under the GCF MSME request for proposal pilot programme in 2016.

The Secretariat, in consultation with the Accredited Entity and National Designated Authority, will present to the Board options regarding increasing the grant portion of GCF funding to the benefit of the most vulnerable women.

This project has an estimated lifespan of 5 years.

Total project value

 

Tonnes of emissions avoided

 

Beneficiaries

 

Direct
50,800
Indirect
322,920
Theme

Cross-cutting

Result areas

Project timeline

Pipeline

30 Aug 2016 - 1043 days

Concept note received

30 Aug 2016

Funding proposal received

12 May 2017

Cleared by GCF Secretariat

23 Apr 2019

Cleared by iTAP

14 Jun 2019

Approved

08 Jul 2019 - 814 days so far

Approved by GCF Board

08 Jul 2019

Legal opinion on AE's Internal Approval

19 Dec 2020

Under implementation

Completed

One region

  • Africa

One country

One priority group

  • African States
USD  
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing

InstrumentAmount
LoanUSD 18,500,000
GrantUSD 1,500,000
Total GCF Financing
USD 20,000,000

Cofinancing

CofinancerInstrumentAmount
Co-FinancingIn-kindUSD 600,000
Co-FinancingLoanUSD 5,000,000
Total Co-Financing
USD 5,600,000

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

African Development Bank
Mr. Timothy Afful-Koomson
Chief Climate Finance Officer
More contacts

National Designated Authority

Ghana
Ministry of Finance
Dr. Alhassan Iddrisu
Director of Economic Strategy and Research Division
P.O. Box MB 40 Ministries, Accra, Ghana