The Green Climate Fund (GCF) has approved 440 million U.S. dollars in climate financing for Africa, targeting seven projects expected to leverage an additional 1.1 billion dollars in co-financing.
Announcing the decision on Monday, March 30, GCF Regional Director for Africa, Catherine Koffman, noted that the continent is already grappling with severe climate impacts, including droughts, floods, and rising food and energy costs, underscoring the urgency for swift and equitable action.
She explained that the investment will strengthen African-led climate solutions, promote economic growth, create jobs, and enhance resilience. The funding is also aligned with broader continental priorities such as the African Continental Free Trade Area (AfCFTA), with a focus on building resilient agriculture, infrastructure, and energy systems.
According to Koffman, these interventions will help protect trade gains from climate shocks while advancing inclusive growth, food security, and poverty reduction across the continent.