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Climate financing in Africa will account for $1.1 trillion by 2030 or 5.1 percent of worldwide climate-smart financing demand.
IFC invests in banks, microfinance institutions and Non-Bank Financial Institutions (NBFIs) to channel sustainable capital towards transition finance. As the continent accelerates its climate response and shifts to a net-zero world, in FY23 IFC increased its financing for climate projects. This included $1.2 billion in financing to support financial institutions to expand their climate and sustainability lending and $876 million for the continent's green energy transition.
IFC’s interventions cut across both investment and advisory services. Investment services vary from debt instruments, including bonds and loans, to financial guarantees and equity participation to support sustainable finance. Advisory services can include strategy development, product development for specific segments, internal system enhancement, capacity building for staff, outreach to target borrowers, sustainable bond instruments, impact reporting and disclosures.
