Climate Finance Fundamentals 7: Climate Finance Regional Briefing: Sub-Saharan Africa

Sub-Saharan Africa is the region least responsible for global climate change and most vulnerable to its impacts. A multitude of actors are involved in directing climate finance to the region, both to support low-carbon development and to help countries adapt to the severe impacts that are already being felt. The Least Developed Countries Fund (LDCF) and the World Bank administered Clean Technology Fund (CTF) are the biggest cumulative multilateral climate funds active in the region, but the Green Climate Fund (GCF) approved the most new funding in 2017 (for the second year in a row). For those funds tracked, CFU data indicates that USD 3.6 billion has been approved for 506 projects and programs throughout Sub-Saharan Africa since 2003. Almost half of the approved funding from these multilateral climate funds has been provided for adaptation measures. Grant financing continues to play a crucial role, especially for adaptation actions, in ensuring that climate actions secure multiple gender-responsive benefits for the most vulnerable countries and population groups.

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