A high-level dialogue at the African Development Bank Group’s 2026 Annual Meetings has highlighted 15 years of collaboration between the African Development Bank Group and the Climate Investment Funds (CIF), focusing on scaling up climate finance and strengthening Africa’s role ahead of COP32.
The event brought together governments, multilateral institutions, climate funds, the private sector, and civil society under the theme of mobilizing development financing in a fragmented global environment. A central highlight was the launch of a report marking 15 years of partnership between the AfDB and CIF, showcasing progress in financing climate resilience and clean energy technologies across Africa.
AfDB Vice President for Power, Energy, Climate and Green Growth Kevin Kariuki said the partnership has deployed over $1 billion in CIF resources, which helped unlock an additional $2.5 billion from the AfDB and about $9 billion from other sources, effectively leveraging $10 for every $1 of CIF funding.
Climate Investment Funds CEO Tariye Gbadegesin said the next phase of the partnership must focus on scaling implementation and accelerating delivery, noting strong demand from African countries for climate-related investments.
The discussions also emphasized the growing importance of the Fund for Responding to Loss and Damage, with participants calling for country-led and country-owned approaches to ensure climate financing aligns with national priorities.
Ibrahima Cheikh Diong, Executive Director of the fund, stressed that African countries should define their own priorities while international partners provide support, rather than imposing external agendas.
Ethiopian officials highlighted that COP32, scheduled for Addis Ababa in 2027, should be an “African COP” that showcases practical climate solutions and positions investment in resilience as essential for global stability and shared prosperity.
AfDB officials reaffirmed that adaptation financing should be viewed not as a cost but as a strategic investment supporting economic transformation, infrastructure development, and financial system resilience across the continent.
The dialogue concluded with a shared commitment among partners to deepen cooperation, accelerate climate finance delivery, and strengthen Africa’s leadership in global climate negotiations leading up to COP32 and beyond.
