Request for Expressions of Interest (REOI) to the African Private Sector Fund (FAPA) for the Private Sector Investment Initiative for Nationally Determined Contributions (NDC) in Africa
Introduction :
The Paris Agreement on Climate Change mandates all countries, including those in Africa, to submit Nationally Determined Contributions (NDCs) as their commitment to keeping global warming below 2oC for which 53 African countries have obliged with a project cost of about US$1.2 trillion by 2030. All projections indicate that about 75% of this cost will come from the private sector. There are key sectors where innovative approaches are poised to widen the tent, attracting billions in private sector capital. By all accounts, engaging the private sector in climate- smart investments is a cornerstone to growing climate business opportunities in Africa. However, private sector participation in climate action in Africa is weak and needs to be strengthened to take advantage of the abundant opportunities for green investments in the continent. The project will address the key constraints and identify green investment opportunities in the following key sectors: Climate-smart Agribusiness and AFOLU; Transport and Infrastructure; Green buildings and Smart Cities; Renewable Energy and Energy Efficiency ; Waste management; water, waste water and irrigation; and financial sector.
The Climate Change and Growth Department at the African Development Bank is responsible for the implementation of the Climate Change Action Plan (2016 -2020). The Action Plan has two main objectives: to support the implementation of Nationally Determined Contributions (NDCs) to the Paris Agreement; and to scale up climate finance to African countries from public (multilateral/bilateral) and private sources.
The Climate Change and Green growth Department (PECG) has received a grant from the African Development Bank’s Fund for African Private Sector Assistance (FAPA) to finance “Private Sector Investment Initiative for Nationally Determined
Contributions (NDCs) in Africa in six Pilot countries: Egypt, Morocco, Angola, Mozambique, Nigeria and South Africa”.