FP205

Infrastructure Climate Resilient Fund (ICRF)

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.

Total project value

 

Beneficiaries

 

Direct
50,365,031
Indirect
144,115,769
Theme

Adaptation

Result areas

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 - 156 days so far

FAA effective

19 Jan 2024

To be completed
USD  
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing

InstrumentAmount
EquityUSD 240,000,000
GrantUSD 13,755,000
Total GCF Financing
USD 253,755,000

Co-financing

Co-financerInstrumentAmount
Co-FinancingEquityUSD 50,000,000
Co-FinancingEquityUSD 230,000,000
Co-FinancingIn-kindUSD 1,320,000
Co-FinancingLoanUSD 230,000,000
Total Co-Financing
USD 511,320,000

GCF Contacts

General media inquiries

GCF Communications
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 6186 (KST)
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6714 (KST)
Send e-mail

Accredited Entity

Africa Finance Corporation
Ms. Kome Ajegbo
Primary

Vice President, Investments
3a Osborne Road, Ikoyi, Lagos, Nigeria
Phone +234 1 279 9669
kome.ajegbo@africafc.org
Ms. Chinekwu Duru
Secondary

Senior Vice President
3a Osborne Road, Ikoyi, Lagos, Nigeria
Phone +234 1 279 9650
chinekwu.duru@africafc.org
Mr. Elie Aloko
Tertiary

Vice President
More contacts

National Designated Authority

Benin
Ministry of Living Environment and Sustainable Development
Mr. Martin Aïna Primary
Director General, Division of Climate Change
01 BP 3502 - 01 BP 3621, Cotonou, Benin
Phone +229 96613936
maina@gouv.bj
marnickson@yahoo.fr
Mr. Théodore Domingo Secondary
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 Primary
Secretary General
Boulevard du 20 Mai, Immeuble Ministériel No. 2, P.O Box 320, Yaoundé, Cameroon
Phone +237 696 939 011
ptchawa@yahoo.fr
Chad
Ministry of the Environment, Fisheries and Sustainable Development
Mr. Abakar MOURNO ABDOULAYE Primary
Expert Environmentaliste
Avenue Idriss Miskine, N’djamena, Chad
Phone +235 60 28 28 10
Phone +235 90 88 01 01
abmournofils12@gmail.com
Côte d'Ivoire
Minister's Office, Ministry of Environment and Sustainable Development
Mr. Marcel YAO Primary
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
Phone (225) 0707791504 / 2720239900
ensamarcel@yahoo.fr
yaomarcelclimat@gmail.com
Mr. Kouadio Philippe Secondary
Deputy Director of Climate Change
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Cote d'Ivoire
Democratic Republic of the Congo (the)
National Coordination of the Green Climate Fund
Prof. Isaac KALONDA KANYAMA Primary
National Coordinator and GCF Focal Point for the Democratric Republic of the Congo
Ms. Francine KATANGA MUTANDA Secondary
Deputy GCF Coordinator
Djibouti
Ministry of Housing, Urban Development and Environment
Mr. Dini Omar Primary
Secretary General
P.O.Box:11, Djibouti, Djibouti
Phone +253 2135 2436
dini.omar85@gmail.com
His Excellency Mohamed Moussa Secondary
Minister of Urbanism, Environment and Tourism
Zone Industrielle Sud , Commune de bouloa, Djibouti, Djibouti
Phone +253 21 35 00 06
Phone (253) 21 35 83 57
mhuecabinet@gmail.com
Gabon
Conseil National Climat National Climate Council
Mr. Davy ONOMORI MBOUMBA Primary
Permanent Secretary of the National Climate Council, Special Advisor to the Gabonese President
Phone +241 (0) 60109090
davyonomoricnc@gmail.com
Ms. Zita KASSA WILKS Secondary
Advisor to the Gabonese President, National Climate Council
Phone +241 (0) 60009999
zitakassacnc@gmail.com
Gambia
Ministry of Finance and Economic Affairs
Mr. Mustapha Samateh Primary
Director
The Quandrangle, Banjul, Gambia
Phone +2202013703
makzsamateh@gmail.com
Ghana
Ministry of Finance
Dr. Alhassan Iddrisu Primary
Director of Economic Strategy and Research Division
P.O. Box MB 40 Ministries, Accra, Ghana
Guinea
The National Directorate of the Environment
Mr. Pierre LAMAH Primary
Executive Secretary of the National Designated Authority of the Green Climate Fund
Coléah Lansébounyi, Commune de Matam, Conakry, Guinea
Phone +224 621 773 443
pierlam_georgsoncol17@yahoo.fr
Mr. Mamadou Oury BARRY Secondary
Substitute
Coléah Lansébounyi- Commune de Matam, Conakry, Guinea
Phone +224 622 802 465
barry8763@gmail.com
Kenya
The National Treasury
Dr Chris Kiptoo Primary
Principal Secretary
Treasury Building 12th Floor, Harambee Avenue, Nairobi, Kenya
Phone +254 20 224 0051
pstnt@treasury.go.ke
Mr. Malik Aman Secondary
Programme Manager, National Coordination (FLLoCA)
Phone +254 720 771774
malikaman@me.com
Mr. Peter Odhengo Secondary
Senior Policy Advisor, Climate Finance
Phone +254 722 984 992
odhengo@gmail.com
Mr. Hillary Korir Secondary
Senior Economist
Phone +254 722 644736
hillary.korir@treasury.go.ke
Mali
The Environment and Sustainable Development Agency
Mr. Zantigui KONE Primary
Director General
Phone +223 78 81 08 88
zantiguibkone@yahoo.fr
Mr. Amidou GOÏTA Secondary
Head of department financial resources mobilization
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
Phone +223 71768531/66883648
amidougoita@gmail.com
Mauritania
Ministry of Environment and Sustainable Development
Mr Sidi El Wavi Primary
Policy Officer and Coordinator of the National Program on Climate Change
Phone +222 4600 8383
elwavi.sm@gmail.com
Namibia
Ministry of Environment and Tourism
Mr. Paulus Ashili Primary
Mr. Timoteus Mufeti Primary
Mr Petrus Muteyauli Primary
Deputy Director, Multilateral Environmental Agreements, Department of Environmental Affairs
Ministry of Environment and Tourism, Private Bag 13306, Windhoek, Namibia, Windhoek, Namibia
Nigeria
National Council on Climate Change
Dr. Salisu Dahiru Primary
Director General
Headquarters Mabushi, Abuja, Nigeria
Rwanda
Rwanda Environment Management Authority
Mrs. Juliet Kabera Primary
Director General
Sierra Leone
Environment Protection Agency
Dr. Abu-Bakar Massaquoi Primary
Executive Chairman
92 Dundas Street, Freetown, Sierra Leone
Mr. Sheku Kanneh Secondary
Chief Director
92 Dundas Street, Freetown, Sierra Leone
Togo
Directorate of Environment, Ministry of Environment
Ms. Méry YAOU Primary
Director of Environment
240 rue des Nîmes Lomé - Togo -, Lomé, Togo
Phone (+228) 22 21 51 97/90148744
Phone (+228) 90148744
ymery69@yahoo.fr
fondverttogo@grnail.com
Mr. Komi Sossou SOSSOU Secondary
Environmentalist, head of planning unit
240 rue des Nîmes Lomé - Togo, Lomé, Togo
Zambia
Ministry of Green Economy and Environment
Mr. Billy Katontoka Primary
National Coordinator
Phone +260 211 252625
Phone +260 97 5366274
billy.katontoka@mgee.gov.zm
Ms. Brenda Simainga Secondary
Environmental Specialist Readiness Support
Phone +260 211 252625
Phone +260 97 2823232
brenda.simainga@mgee.gov.zm

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.