Africa Marks 15 years of Climate Finance Partnership, Calls for Scaled Delivery Before COP32

Senior leaders from governments, multilateral institutions, climate funds, the private sector and civil society on Wednesday celebrated 15 years of partnership between the African Development Bank (AfDB) and the Climate Investment Funds (CIF), while urging faster, country‑led delivery of climate finance ahead of COP32.

The event, a high‑level dialogue titled “Africa’s Climate Leadership: Financing Transformation, Strengthening Partnerships, and Shaping the Road to COP32” was held on the sidelines of the AfDB Group’s 2026 Annual Meetings. Organised jointly by the AfDB, CIF and the Fund for Responding to Loss and Damage, the session launched a report documenting the partnership’s achievements in financing resilience and clean technologies across the continent.

In his opening remarks, Kevin Kariuki, AfDB vice‑president for Power, Energy, Climate and Green Growth, said CIF resources have served as a catalytic lever for larger investment. “Over the past 15 years, we have successfully deployed over $1 billion in CIF resources. These funds have unlocked an additional $2.5 billion from the African Development Bank and $9 billion from other sources. That means that for each dollar of CIF, $10 was leveraged,” he said.

Tariye Gbadegesin, chief executive officer of CIF, described the milestone as a springboard for a more ambitious next phase. “The next chapter must be bigger, faster, and more implementation‑focused,” Gbadegesin said, adding that demand and ambition from African countries are clear, while delivery remains the core challenge.

Panelists stressed that scaling implementation and mobilising larger volumes of capital will be critical to meeting Africa’s mounting climate and development needs. They also welcomed the Fund for Responding to Loss and Damage as a new operational pillar in global climate finance, noting its potential to deliver targeted support to vulnerable frontline communities.

Ibrahima Cheikh Diong, executive director of the Fund for Responding to Loss and Damage, argued the fund’s success depends on country leadership. “If we want this fund to be successful in supporting Africa, it has to be country‑led, country‑owned and the country has to be in the driver’s seat,” he said.

Speakers framed the discussion in the context of preparations for COP32, scheduled for Addis Ababa, Ethiopia, in 2027, calling on Africa to assert leadership both in negotiations and in practical implementation. Semereta Sewasew, Ethiopia’s state minister for economic cooperation, said COP32 should be “Africa’s COP,” a moment for the continent to showcase tangible solutions and to make the case that investments in resilience and green development are investments in shared prosperity and global stability.

Kariuki reiterated the AfDB’s view that adaptation financing is a strategic investment aligned with the Bank’s core priorities. “Financing adaptation is not a cost, but a strategic investment that advances the African Development Bank’s Four Cardinal Points,” he said, citing benefits such as stronger access to capital, reinforced financial systems, and climate‑resilient infrastructure and value chains.

The dialogue included contributions from representatives of Germany, the United Kingdom and Ethiopia, who emphasised multilateral cooperation and the need to mobilise public and private capital at scale. Dr. Katharina Stasch of Germany’s Federal Ministry for Economic Cooperation and Development said collective action is essential to shape a sustainable future.

The session concluded with a shared call to accelerate implementation, strengthen partnerships across public and private actors, and ensure climate finance delivers transformative impacts for African countries and communities ahead of COP32 and beyond.