Over USD 3 Billion has been pledged to safeguard, one of the world's largest ecological lungs. At an inaugural roundtable held on Tuesday 26 May in Brazzaville on the sidelines of the African Development Bank Group's Annual Meetings, international donors pledged the funds to finance 63 low-carbon projects through the Congo Basin Blue Fund.
"Together, following your specific commitments, we have just taken a further step towards fulfilling the statutory mandate of the Congo Basin Blue Fund, which is eagerly awaited by the states and their populations," said Congolese President Denis Sassou N'Guesso, who also chairs the Congo Basin Climate Commission, an African Union body which aims to combat climate change and promote blue economy.
The funding target for the priority program of 70 projects under the Congo Basin Blue Fund was set at $5.72 billion by the Commission's 17 member countries.
During this round-table discussion, the African Development Bank Group committed to providing $250 million in preliminary funding to implement projects led by the regional climate mechanism. The institution's Director General for Central Africa, Léandre Bassolé, emphasised, on behalf of the Group's President, Dr Sidi Ould Tah, that the six countries of the Congo Basin (Cameroon, Gabon, Equatorial Guinea, the Central African Republic, the Republic of the Congo and the Democratic Republic of the Congo) could not continue to bear the cost of this global responsibility alone. "The roundtable bringing us together today represents a real opportunity for us all to redouble our efforts to mobilise resources for the Congo Basin. For its part, the African Development Bank will resolutely continue its commitment alongside the countries of the Congo Basin and all its partners to mobilise all available financing instruments. The implementation of the pillars of my 'Four Cardinal Points' vision should enable us to consolidate and expand our current commitments," said Mr. Bassolé, who was delivering President Ould Tah's speech.
The second-largest tropical rainforest region after the Amazon, the Congo Basin encompasses 300 million hectares of forests and peatlands, which are essential for the climate, biodiversity and water. It constitutes an exceptional carbon sink that stores billions of tons of carbon and provides a livelihood for tens of millions of Africans in the sub-region.
Following the roundtable, the Development Bank of Central African States (BDEAC), which hosts the Blue Fund for the Congo Basin, will finance the equivalent of $600 million in low-carbon infrastructure projects. The World Bank Group has committed $1 billion to the Fund, whilst the African Chamber of Commerce in Scandinavia will contribute $600 million in grants. As for the Green Climate Fund, it will contribute $320 million to the project financing package.
For its part, the African Sovereign Fund has announced $500 million in funding in the form of financial guarantees for the public and private sectors for the period 2026-2028.
The projects led by the Congo Basin Climate Commission (CCBC) form part of the implementation of the African Union's Agenda 2063, the Marrakesh Declaration and the Member States' National Plans. This first round of funding will be followed by further initiatives to mobilise resources for projects proposed by states in the sub-region, the private sector and non-state actors.
The Blue Fund for the Congo Basin is the main financial instrument established by the Commission to accelerate the ecological transition in Central and East Africa. As such, it aims to mobilise resources from contributors, investors, technical and financial partners, as well as philanthropic actors, to support programs and projects promoting sustainable development, climate resilience, the enhancement of ecosystems and the promotion of a blue and green economy.
