UK funded CFA Nigeria amasses pipeline projects worth $445m<\/p>\n
UK Government-funded Climate Finance Accelerator (CFA) Nigeria has opened a call for proposals for the Climate Finance Accelerator (CFA) Nigeria programme.
\nCFA Nigeria is a climate finance country platform designed to directly respond to the urgency and scale of the climate crisis in Nigeria, by mobilising finance for the country\u2019s just transition to a resilient, low-carbon economy.
\nIn 2021-22 CFA Nigeria amassed a pipeline worth $445 million and worked directly with innovative projects to engage Nigerian and global financiers.
\nThe support will culminate in an event in June 2023 to bring project developers together with potential investors.
\nDr Uzo Egbuche, Team Leader of CFA Nigeria, said that CFA Nigeria was recognised as a country platform capable of deploying blended finance and leveraging private finance at scale.
\nHe said: “We are proud to have established ourselves as an independent legal entity in 2022 able to serve our core clients of financiers, developers and of course the Federal Government.
\n\u201cWe invite all developers in the climate economy seeking finance to join the pipeline as we begin this next chapter in 2023.\u201d
\nThis year CFA Nigeria intends to expand its pipeline with two further calls for proposals. It engages extensively with Nigerian financial institutions and members of the Glasgow Finance Alliance for Net Zero Citibank and Standard Chartered to identify avenues by which finance can be made available to viable proponents.
\nIt was learnt that In addition to Nigeria, the CFA programme was also operational in Colombia, Egypt, Viet Nam, Mexico, Pakistan, Peru, South Africa and Turkiye and is being delivered by PwC and Ricardo Energy & Environment. It is funded by the UK Government\u2019s Department of Business, Energy and Industrial Strategy (BEIS) and is implemented in Nigeria with Adam Smith International as the in-country partner.
\nBritish Deputy High Commissioner in Lagos, Ben Llewellyn Jones, said: \u201cI\u2019m delighted that the Climate Finance Accelerator Nigeria is now open for applications from low-carbon projects. The private sector has the potential to play a large part in helping to meet Nigeria\u2019s climate change commitments and I\u2019m excited to see what innovative projects apply.
\n\u201cThe CFA has already seen great success globally and in Nigeria and it is fantastic that Nigerian projects will continue to receive bespoke support from technical and financial experts to help increase their chances of securing investment. The CFA builds on the UK\u2019s climate leadership, as host of COP26 in Glasgow and is part of the UK\u2019s commitment to supporting Nigeria\u2019s transition to a prosperous low carbon future.\u201d
\nCFA Nigeria is a build-out of the pilot CFA launched in 2017 and was successfully established as an independent legal platform in 2022.
\nAs a catalytic public-private initiative, CFA Nigeria offers substantial value to project developers, financial institutions and the Federal Government of Nigeria.
\nIt creates common ground for project developers and financial institutions to deploy blended finance, de-risk and fund low-carbon, resilient opportunities.
\nAlso, it acts to improve the bankability of projects and public-private partnerships and to connect projects with financial institutions, identifying policy, regulatory and fiscal interventions to enable greater flows of finance and builds understanding and awareness of the climate finance supply chain between finance, business, and government.
\nThe projects are expected to be selected from the country\u2019s priority sectors according to Nigeria\u2019s Nationally Determined Contribution: renewable power, transport, energy efficiency, residential, oil and gas, agriculture, forestry and land use, waste and the circular economy, water, and industrial processes. Successful projects will receive one-to-one advice and support from technical, financial and gender equality, and social inclusion experts to help them move closer to investment.<\/p>\n","protected":false},"excerpt":{"rendered":"
UK funded CFA Nigeria amasses pipeline projects worth $445m UK Government-funded Climate Finance Accelerator (CFA) Nigeria has opened a call for proposals for the Climate Finance Accelerator (CFA) Nigeria programme. CFA Nigeria is a climate finance country platform designed to directly respond to the urgency and scale of the climate crisis in Nigeria, by mobilising […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-191","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/comments?post=191"}],"version-history":[{"count":1,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/191\/revisions"}],"predecessor-version":[{"id":192,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/191\/revisions\/192"}],"wp:attachment":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media?parent=191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/categories?post=191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/tags?post=191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}