Infrastructure Climate Resilient Fund (ICRF)
Climate change, such as rising temperatures, infrequent precipitation patterns and flooding, is threatening existing, and crucial yet-to-be-built, infrastructure in sub-Saharan Africa – a region already challenged by infrastructure low in quantity, quality, and accessibility. It is also heightening pre-existent investment barriers thereby putting at risk an entire regions opportunity of economic growth and development. The problem of financing climate-resilient infrastructure (CRI) in sub-Saharan Africa amounts to a financial summit of investment barriers that too few private investors are currently willing to scale.
To address the investment barriers of CRI investments in sub-Saharan Africa, GCF will provide USD 240 million in junior equity to the Infrastructure Climate Resilient Fund (ICRF). By supplying the catalytic first loss equity to catalyze investments from private sector investors and pension funds, the ICRF will be supporting the development of CRI projects in a region struggling to unlock such funding by itself. The USD 240 million investment will unlock the financial potential that can benefit up to 50 million people directly and 144 million people indirectly by securing them reliable infrastructure services.
Project timeline
Pipeline
23 Sep 2021 • 540 days
Concept note received
23 Sep 2021
Funding proposal received
07 Apr 2022
Cleared by GCF Secretariat
04 Aug 2022
Cleared by iTAP
20 Feb 2023
Approved
16 Mar 2023 • 310 days
Approved by GCF Board
16 Mar 2023
Legal opinion on AE's Internal Approval
07 Jul 2023
FAA executed
22 Sep 2023
Under implementation
19 Jan 2024 • 486 days so far
FAA effective
19 Jan 2024
Disbursement - USD 9,550,000
10 Dec 2024
Disbursement - USD 136,000,000
10 Dec 2024
To be completed
One region
- Africa
Nineteen countries
- Democratic Republic of the Congo (the)
- Gabon
- Mali
- Nigeria
- Sierra Leone
- Togo
- Chad
- Cameroon
- Côte d'Ivoire
- Gambia
- Guinea
- Namibia
- Benin
- Ghana
- Kenya
- Djibouti
- Mauritania
- Rwanda
- Zambia
Two priority groups
- Least Developed Countries
- African States
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing57% disbursed
| Instrument | Amount |
|---|---|
| Equity | USD 240,000,000 |
| Grant | USD 13,755,000 |
| Total GCF Financing |
|---|
| USD 253,755,000 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Equity | USD 50,000,000 |
| Co-Financing | Equity | USD 230,000,000 |
| Co-Financing | In-kind | USD 1,320,000 |
| Co-Financing | Loan | USD 230,000,000 |
| Total Co-Financing |
|---|
| USD 511,320,000 |
GCF Contacts
General media inquiries
GCF CommunicationsSend e-mail
Request for information
GCF Information DisclosureRequest information about this project
Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
File a complaint
Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6714 (KST)
Send e-mail
Entity
Africa Finance Corporation
Vice President, Investments
3a Osborne Road, Ikoyi, Lagos, Nigeria
Senior Vice President
3a Osborne Road, Ikoyi, Lagos, Nigeria
More contacts
National Designated Authority
National Coordination of the Green Climate Fund
National Coordinator and GCF Focal Point for the Democratric Republic of the Congo
Conseil National Climat National Climate Council
Permanent Secretary of the National Climate Council, Special Advisor to the Gabonese President
Advisor to the Gabonese President, National Climate Council
The Environment and Sustainable Development Agency
Head of department financial resources mobilization
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
National Council on Climate Change
Director-General and Chief Executive Officer
14 Vistula Close, Maitama, FCT, Abuja, Nigeria
Environment Protection Agency
Executive Chairman
38 Freetown Road, Freetown, Sierra Leone
Chief Director
38 Freetown Road, Freetown, Sierra Leone
Directorate of Environment, Ministry of Environment
Director of Environment
240 rue des Nîmes Lomé - Togo -, Lomé, Togo
Environmentalist, head of planning unit
240 rue des Nîmes Lomé - Togo, Lomé, Togo
Ministry of the Environment, Fisheries and Sustainable Development
Expert Environmentaliste
Avenue Idriss Miskine, N’djamena, Chad
Ministry of Environment, Protection of Nature and Sustainable Development (MINEPDED)
Secretary General
Boulevard du 20 Mai, Immeuble Ministériel No. 2, P.O Box 320, Yaoundé, Cameroon
Minister's Office, Ministry of Environment and Sustainable Development
Public Policy, Climate Change and Ecological Transition Expert / Technical Advisor to the Minister in charge of International Cooperation and Resource Mobilization
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Abidjan, Cote d'Ivoire
Deputy Director of Climate Change
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Cote d'Ivoire
Ministry of Finance and Economic Affairs
Director
The Quandrangle, Banjul, Gambia
Ministry of Environment and the Sustainable Development
Executive Secretary of the National Designated Authority for the Green Climate Fund
Coléah, Lansébounyi, Commune de Matam, Conakry, Guinea
Ministry of Environment and Tourism
Environmental Commissioner
Deputy Director, Multilateral Environmental Agreements, Department of Environmental Affairs
Ministry of Environment and Tourism, Private Bag 13306, Windhoek, Namibia, Windhoek, Namibia
Chief Conservation Scientist
Ministry of Living Environment and Transport in charge of Sustainable Development
Director General, Division of Environment and Climate Change
01 BP 3502 - 01 BP 3621, Cotonou, Benin
Ministry of Finance
Ag. Director, Climate Financing Division
P.O.Box MB40, Ministries, Accra, Ghana
Phone +233244152226
aquansah@mofep.gov.gh
romensah@mofep.gov.gh
jsmith@mofep.gov.gh
fgyamfi@mofep.gov.gh
aasante@mofep.gov.gh
The National Treasury
Principal Secretary
Treasury Building 12th Floor, Harambee Avenue, Nairobi, Kenya
Programme Manager, National Coordination (FLLoCA)
Senior Policy Advisor, Climate Finance
Ministry of Housing, Urban Development and Environment
Secretary General
P.O.Box:11, Djibouti, Djibouti
Minister of Urbanism, Environment and Tourism
Zone Industrielle Sud , Commune de bouloa, Djibouti, Djibouti
Ministry of Environment and Sustainable Development
Secretary General
Rue Mamadou Konate, Lot 01 Immeuble du Government N.02 llot V. Tevragh Zeina, Nouakchott, Mauritania
Rwanda Environment Management Authority
Director General
Ministry of Green Economy and Environment
National Coordinator
Environmental Specialist Readiness Support
Documents
| Title | Type | Date |
|---|---|---|
| Infrastructure Climate Resilient Fund (ICRF) | Approved funding proposal | 11 Apr 2023 |
| Gender action plan for FP205: Infrastructure Climate Resilient Fund (ICRF) | Gender action plan | 16 Mar 2023 |
| Gender assessment for FP205: Infrastructure Climate Resilient Fund (ICRF) | Gender assessment | 16 Mar 2023 |
| Environmental and social safeguards (ESS) report for FP205: Infrastructure Climate Resilient Fund (ICRF) | Environmental and Social Safeguards report | 21 Feb 2023 |
News + Stories
The Green Climate Fund and Africa Finance Corporation sign project agreement for the Infrastructure Climate Resilient Fund (ICRF)
23 Oct 2023 / The Green Climate Fund (GCF) and Africa Finance Corporation (AFC) signed a project agreement to begin implementing the Infrastructure Climate Resilient Fund (ICRF). As an innovative finance instrument established to climate proof Africa’s infrastructure, ICRF will introduce climate-resilient infrastructure as a new asset class in the African investment landscape.