The African Development Bank (AfDB) has introduced a new Climate Action Window (CAW) Technical Assistance Facility at COP29 in Baku, Azerbaijan. This initiative aims to bridge the continent’s climate finance gap by advancing climate projects in 37 low-income African nations.
The CAW will initially allocate $56 million to support adaptation and mitigation projects in line with the Paris Agreement and national climate plans. Funded through the African Development Fund’s 16th replenishment cycle, 75% of resources will be allocated for adaptation, 15% for mitigation and 10% for technical support.
Supported by contributions from the U.K., the Netherlands, Germany and Switzerland, the facility will accept proposals from governments, regional organizations, NGOs and UN agencies in eligible countries until February 5, 2025. Funding awards will range between $260,000 and $1.3 million per project.
With more than 80 identified projects totaling $800 million, the CAW is poised to expand efforts in climate adaptation and foster partnerships with global climate funds.
