WASHINGTON, November 8, 2016 – Since the launch of the Africa Climate Business Plan (ACBP) in 2015, the World Bank has been working with client countries, development partners, and the private sector, to flesh out the ACBP’s program of work. An extra area of focus, namely climate-smart development of the transport sector has been added to the plan with investment in the order of US$3.2 billion, of which US$2.8 billion is expected from the International Development Association (IDA).
The World Bank has continued to facilitate country access to a menu of internal and external concessional and climate finance sources. The results of these efforts are already apparent and remain on target. So far, US$3.6 billion, representing some 60 projects in 33 countries, has been mobilized from IDA to implement the ACBP, including projects already approved by the Bank’s Board of Executive Directors since COP21, and projects to be approved by the end of 2016.
The Bank entered an important partnership with the African Group of Negotiators (AGN), supporting the group to sharpen Africa’s negotiating position toward the next stages of implementation of the Paris Agreement, and working together to spur climate action on the ground. The partnership resulted in stronger country ownership of the ACBP and a strengthened capacity of the AGN to advocate support for climate action in Africa, particularly in the areas of focus of the business plan.
Progress has been made in many key areas of the ACBP, including the ocean economy, coastal protection, forests, landscapes, migration, transport, water, and energy.
On the ocean economy, the African Ministerial Conference on Ocean Economies and Climate Change, organized by the Government of Mauritius and the World Bank Group, brought in renewed political push for a stronger and faster implementation drive. A US$150 million program is being prepared to reduce coastal vulnerability in West Africa.
On climate-smart agriculture (CSA), The World Bank Board approved 11 projects, totaling US$1.4 billion in International Development Association commitments, reaching more than 1.6 million farmers, and improving about 725,000 hectares of land with CSA practices.
Access to energy is of utmost importance to people in Africa. In the ACBP, the Bank is committed to installing 1 gigawatt of solar capacity by 2020. A regional project worth US$200 million is being prepared to expand electricity access to households and communities through modern off-grid electricity services in nine target countries. There is also progress toward the ACBP’s targets on hydropower and geothermal energy.
One of the key measures for adaptation in Africa is hydro-meteorological services. With US$23 million from the Green Climate Fund, a hydro-meteorological services and warning services project is being implemented in Mali, a country that is highly vulnerable to climate change.
On forests and landscapes, the World Bank is supporting several countries (such as Burundi, the Democratic Republic of Congo, Ethiopia, and others) in achieving, as part of their Nationally Determined Contributions, the goal of the African Forest Landscape Restoration Initiative to bring 100 million hectares of degraded and deforested land under restoration by 2030.
The World Bank Group remains committed to working with governments and other stakeholders on the ground in African countries, mobilizing international financing for investments for effective and efficient implementation of the ACBP.
Many countries have committed to step up mitigation and adaptation efforts under recent international agreements, such as the Sendai Framework, the Sustainable Development Goals (SDGs), and the Paris Agreement on climate change. These efforts will require a corresponding increase in resource mobilization.
Forty-five African countries have committed to implement their Intended Nationally Determined Contributions (INDCs) as part of the Paris Agreement. The ACBP had identified various sources of potential financing for the implementation of activities aligned with the INDCs.
Although, considerable progress has been made in the first year of ACBP implementation, more work remains to be done, both to achieve the financial targets as well as to leverage the additional resources needed to close Africa’s climate finance gap.