The Africa Climate Change Fund (ACCF) has grown to $28.8 million following a $3 million (€3 million) contribution by Ireland ($2 million) and Austria ($1 million).
Established in 2014 by the African Development Bank (AfDB), the trust fund supports African countries to build resilience to the worsening impacts of climate change and to transition to sustainable low-carbon growth.
With the latest cash injection, Ireland and Austria join Germany, Italy, Flanders, Quebec, Canada and Global Center on Adaptation as ACCF donors.
“Austria contributed to the ACCF to support the development and update of African countries’ Nationally Determined Contributions and Long-Term Climate Strategies. These are essential to combating climate change and further sustainable development” said Mr. Harald Waiglein, Austria’s Director General at the Federal Ministry of Finance.
On his part, Mr. Sean Fleming, Irish Minister for International Development and the Diaspora said his country is focused on supporting African countries to adapt to climate change.
“Ireland will more than double its climate finance to developing countries by 2025. This contribution to the ACCF strongly focuses on climate adaptation and indicates how Ireland supports the drive for a climate-resilient Africa,” he said.
The AfDB created the fund with an initial contribution of €4.725 million (approximately $4.8 million) from the Government of Germany. In 2017, the bank converted it to a Multi-donor Trust fund with contributions from the Governments of Flanders, Belgium, and Italy.
Since its inception, ACCF has approved 27 grants worth USD $16.89 million, with seven projects completed. The approved projects support over 26 African countries to strengthen their capacities to access international climate finance, revise national climate plans and develop climate adaptation initiatives.