By Favour Nnabugwu
Ireland and Austria have joined the African Development Bank’s Africa Climate Change Fund (ACCF) with contributions of €2 million and €1 million, respectively, to support the Fund’s work.
The ACCF is a multi-donor trust fund that backs the African Development Bank Group’s target of tripling its climate financing and advancing Africa’s climate resilience.
Harald Waiglein, Director General at Austria’s Federal Ministry of Finance, expressed his country’s commitment to tackling climate change with a strong focus on adaptation.
In a letter to the Bank, Waiglein said, “the Federal Ministry of Finance of Austria decided to contribute to the ACCF to support activities of the Africa NDC Hub, including the development and update of Nationally Determined Contributions and Long-Term Climate Strategies of African countries.”
“We consider these strategies essential to combat climate change and further sustainable development,” he added.
Sean Fleming, Ireland’s Minister for International Development and the Diaspora, said, “Ireland is committed to supporting communities across Africa to deal with the impacts of climate change.”
with contributions from the governments of Flanders, Belgium, and Italy. The current value of the trust fund is $28.8 million.
Since its inception, the Fund has approved 27 grants worth $16.89 million and completed seven projects that have helped build capacity to access international climate finance in over 26 African countries. ACCF projects have also enabled countries to mobilize climate finance and implement small-scale adaptation strategies to enhance climate resilience.
The ACCF supports projects through competitive calls for proposals and a demand-driven window. These new funds will be channeled via these windows