Africa Climate Change Fund ACCF
Environment and Climate Change Division of the African Development Bank
The objective of the Africa Climate Change Fund is to support regional member countries (RMCs) in their transition to a more climate-resilient and low-carbon mode of development; to prepare to access greater amounts of climate finance and use of funds received more efficiently and effectively; and to allow the bank to scale up its climate change activities.
creation April 2014
established for 3 years, may be terminated, renewed or converted by common agreement between donor(s) and bank
Approximately 9 million USD
ambitious goal to triple its climate financing to reach US $5 billion a year by 2020.
African Development Bank, in collaboration with other departments of the Bank.
A proposal has to be submitted to the Secretariat, together with beneficiaries proposals will be appraised. Proposals are peer reviewed by two Bank experts.
The governance structure of the ACCF includes: a secretariat hosted within ONEC3, a technical committee, the donor and, when necessary, the Bank’s Board of Directors.
The Bank, through the Financial Control department, will furnish the donor with annual financial statements of funds received and disbursed as of December 31st of each year.
The Bank, through the ACCF secretariat, will produce annual progress reports on the execution of the projects, programmes and activities financed under the Fund.
The Bank will submit to the donor, not later than six months after exhaustion of the resources under the ACCF, a final activity report as well as a closing financial statement, on the activities financed from the resources.
NGOs and research institutions: depend on credibility and track record in area of financial governance; must be based in Africa; need to provide evidence of valid legal registration as well as certificate to carry out development work in RMCs; proof of existence at least 2 years prior; demonstrate existence of sound legal financial system; evidence of competency and knowledge of local values, networks and structures