Canada-AfDB Climate Fund Allocates $36.3 Million for African Climate Adaptation


ABIDJAN, Ivory Coast – The Canada-African Development Bank Climate Fund (CACF), dedicated to promoting climate change projects with a gender-affirmative focus in Africa, has greenlit $36.3 million to advance climate adaptation initiatives on the continent.

Thank you for reading this post, don't forget to subscribe!

This funding takes the form of concessional loans granted to private sector enterprises. It includes $18.3 million earmarked for the refurbishment and expansion of Benin’s Port Autonome de Cotonou, and an additional $18 million to support the construction of three seawater desalination plants as part of the Green Investment Program led by the OCP Group.

In Benin, CACF’s support will facilitate the development of climate-resilient measures and best practices within port operations to counteract impending climate change risks related to rising temperatures, sea levels, and droughts. Importantly, this project will generate employment opportunities for women. CACF’s concessional loan complements a EUR 55 million loan from the African Development Bank granted in July 2023.

Meanwhile, in Morocco, the project aims to produce and distribute 105 million cubic meters of drinkable water to approximately 1.5 million people in Safi and El Jadida, along the Atlantic coast. This initiative comes at a critical juncture for Morocco, facing severe water scarcity and ranking 27th among countries most vulnerable to chronic water shortages, as per the World Resource Institute. Women and young girls stand to gain from enhanced time management and better health. The African Development Bank is co-financing this project with $150 million.

CACF is a collaborative effort between the African Development Bank and Canada, with the primary objective of extending concessional loans to eligible climate change projects across Africa. To date, CACF has sanctioned $20.4 million for two other climate-change related projects in the public sector. The first is a $5.4 million concessional loan to bolster agricultural, silvicultural, and pastoral production and value chains in Senegal, along with the dissemination of innovative adaptation practices. The second project allocates $15 million to Nigeria, supporting socio-economic development and poverty reduction in Umuahia and Aba by enhancing climate-resilient urban infrastructure systems.

Gareth Phillips, Manager of the Climate and Environment Finance Division of the African Development Bank, emphasized the need to address the adaptation requirements of the most vulnerable communities and infrastructure in Africa in the face of escalating climate change impacts. CACF is recognized as a highly efficient and effective facility for delivering widespread climate adaptation benefits, thanks to the valuable support from the Canadian government.

Gbenga Samson
Gbenga Samson
Samson Gbenga Salau [Editorial Board Adviser] Gbenga Samuel Salau is a professional journalist with over 17 years experience in journalism, he is a graduate of Communication and Language Arts, University of Ibadan. On completion of his youth service, he joined The Guardian as a freelance journalist and was later absorbed as a staff. While in the University, he was a campus journalist reporting for the Independence Hall and Faculty of Arts Press Clubs. As a campus journalist, he won the following awards; Independence Hall Press Best News writer; University of Ibadan Union of Campus Journalists’ Best News Reporter/Writer; First Runner-up, Reuben Abati Award for Investigative Journalism; Association of Faculty of Arts Students’ Press Best Reporter; University of Ibadan Union of Campus Journalists’ Best Political Writer; Winner, Reuben Abati Award for Investigative Journalism, and University of Ibadan Union of Campus Journalists’ Best Interviewer. He served the Association of Communication and Language Arts Students, as the Public Relation Officer, the same year he was appointed the News Editor of the Association of Faculty of Arts Students Press. The following session, he was made the General Editor, and a member of the 13-man University of Ibadan Students’ Union Transition Committee. As a reporter in The Guardian, in 2014, he won the Promasidor Quill Award Best Report on Nutrition and DAME Business Reporting category. In the 2015 edition of the Promasidor Quill Award, he won the best Report on Nutrition and Brand Advocate Categories, while in 2016, he won the NMMA Print Journalist of the Year, first runner-up Golden Pen Reporter of the Year and SERAs CSR Awards. Gbenga Salau loves traveling, reading, and listening to songs with good lyrics no matter the genre.

Share post:




More like this

Why I’m Scared of Cracking Certain Jokes — Comedian AY

December 4, 2023. Azonuchechi Chukwu. Comedian Ayodeji Richard Makun aka AY...

Usefulness of Russian Language Still Blurry for African Learners

By Kestér Kenn Klomegâh Russian language study is hitting...

Nigeria, South Africa’s hydropower plants set for upgrades to boost Africa’s electricity generation

The African Development Bank (AfDB) is drawing up plans...

35-year-old man remanded for allegedly defiling neighbour’s daughter

Ikeja, Dec. 4, 2023. An Ikeja Chief Magistrates’ Court on...
WP to LinkedIn Auto Publish Powered By :