The Global Green Climate Fund (GCF) has disbursed about $19 billion to global projects, in Latin America, Asia Pacific, the Caribbean, Middle East and Africa.
Africa has received about 40% of this amount – 7,2 billion, in the last ten years.
Speaking at Africa’s Green Economy Summit, in Cape Town on Wednesday, Catherine Koffman, Director of the Green Climate Fund (GCF) Africa Region, said the organisation’s biggest footprint for funding is Africa.
Rwanda features in GCF’s investments for green city and resilient agriculture initiatives, while Ghana, Maldives, and Mauritania, recently received funding for significant, coordinated climate resilience projects.
In the last ten years, the fund invested in food, water and energy security projects.
This has included conflict affected zones.
“New funding is coming onboard” said Koffman.
She is expected to move to the African continent, from South Korea, where she is based, around April this year, when the GCF’s board decides on the location of the African office.
It is difficult to ascertain which country received the most funding in the last ten years, but Jordan recently received a high-value project approval for a $295 million water project.
Picture from left to right: Aakif Merchant: Director of Head of Africa at Convergence, Catherine Koffman: Regional Director of Africa at GCF, Moglo Komlanvi: Climate Finance Expert at the West African Development Bank, Manessah Alagbaoso: Head Business Ecosystems and Sustainability at Standard Bank, Nick Allen: Managing Partner at Savant Venture Fund, Yelix Yuan: Chief Strategy Officer at Rwanda Green Fund.