AfDB Co-Financing to Cif Projects Could Top U.S.$ 600 Million in 2012

15 December 2011
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African Development Bank (Abidjan)
press release

In 2012, the African Development Bank (AfDB) expects to approve approximately USD 600 million in co-financing and begin implementation of numerous projects and programs backed by the Climate Investment Funds (CIF). Anticipated CIF approvals in 2012 are expected to reach about U.S.$ 175 million.

The AfDB's Clean Technology Fund (CTF) pipeline for 2012 includes projects in Egypt for concentrated solar power (CSP) at Kom Ombo and the approval by ADB's Board of the Morocco Qarzazate CSP plant for an ADB co-financing of U.S.$ 250 million. CTF anticipates channeling U.S.$ 50 million to the CSP project in Egypt thorough the AfDB, while the Bank expects to contribute an additional U.S.$ 150 million of its own co-financing. Several projects under a South African program to promote renewable energy and energy efficiency through private investments will also be prepared to access a portion of the U.S.$ 50 million earmarked by CTF for AfDB distribution. Work will continue in implementing Eskom's 100 MW solar and 100 MW wind project in South Africa.

Under the Pilot Program for Climate Resilience (PPCR), the Bank anticipates U.S.$ 75 million in PPCR financing will be approved for two projects in Niger for improved climate forecasting and early warning systems and enhanced water resource management and two in Mozambique or sustainable land and water management and enhanced climate resilience in agricultural production and food security.

AfDB co-financing is expected to be around U.S.$ 50 million. A project to strengthen climate resilience in Zambia's Kafue River Basin will also see advancement in 2012, with approval expected in early 2013.

In 2012, the Bank expects Ethiopia's U.S.$ 50 million investment plan under the Scaling Up Renewable Energy Program in Low Income Countries (SREP) to be approved, as well work to begin on SREP investment plans for Tanzania and Liberia. The AfDB will also provide technical support to Mali as it prepares projects for solar photovoltaic IPPs and mini/micro hydro with the support of U.S.$ 2 million SREP project preparation grants. Implementation will begin on a SREP and AfDB-backed project to develop a geothermal steam field at Menengai, Kenya.

Forest Investment Program (FIP) projects will be prepared in Burkina Faso to develop participatory management and protection of state forest reserves and the Democratic Republic of Congo to address deforestation and degradation in the Mbuji Mayi/Kananga and Kisangani supply areas. Total FIP financing channeled through the AfDB to these projects is estimated at U.S.$ 32.5 million. Ghana's FIP investment plan is also expected to be approved for U.S.$ 50 million in FIP financing in 2012.

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