3 August 2017. During the month of July, major multilateral meetings drew attention to the need for adequate and predictable climate finance for developing countries, with only the US abstaining from the calls. The Green Climate Fund (GCF) Board met amidst calls from civil society to broaden the scope of qualifying adaptation activities. Two new climate financing platforms were launched for Africa, in support of climate-resilient urban development, and investments in emission reduction measures and climate resilience.
- A €4 million grant from the Nordic Development Fund (NDF) will support the establishment of the ‘Urban & Municipal Development Fund for Africa’ of the African Development Bank (AfDB), which will target urban growth management and climate-resilient development in African cities and municipalities through improving governance and the quality of basic services, including infrastructure.
- Also, participants at an Economic Community of West African States (ECOWAS) roundtable on catalyzing investments, held in Abidjan, Cote d’Ivoire, agreed to establish, at the November 2017 UN Climate Change Conference in Bonn, Germany, a sub-regional platform for climate action. The platform will catalyze investments in renewable energy, energy efficiency, other emission reduction measures and climate resilience. [NDF Press Release] [UNFCCC Press Release