| Project Detail |
Climate change, such as rising temperatures, infrequent precipitation patterns and flooding, is threatening existing, and crucial yet-to-be-built, infrastructure in sub-Saharan Africa – a region already challenged by infrastructure low in quantity, quality, and accessibility. It is also heightening pre-existent investment barriers thereby putting at risk an entire regions opportunity of economic growth and development. The problem of financing climate-resilient infrastructure (CRI) in sub-Saharan Africa amounts to a financial summit of investment barriers that too few private investors are currently willing to scale.
To address the investment barriers of CRI investments in sub-Saharan Africa, GCF will provide USD 240 million in junior equity to the Infrastructure Climate Resilient Fund (ICRF). By supplying the catalytic first loss equity to catalyze investments from private sector investors and pension funds, the ICRF will be supporting the development of CRI projects in a region struggling to unlock such funding by itself. The USD 240 million investment will unlock the financial potential that can benefit up to 50 million people directly and 144 million people indirectly by securing them reliable infrastructure services. |
