By Albert Appong-Ansah, GNA
Accra, Oct. 13, GNA – The Green Climate Fund (GCF) says Africa receives about 40 percent of all its funding, the largest share of any region, but the continent’s ability to attract more depends on how ready it is with investable projects.
The GCF has so far committed about 20 billion dollars over the past 10 years, of which 7.6 billion dollars had gone to Africa.
GCF provides readiness funding to strengthen institutions, build capacity, and supports project preparation facilities to help countries develop and structure their pipelines.
Madam Catherine Koffman, GCF’s Director of the Africa Region, told the Ghana News Agency in Accra that Africa received very little funding globally, but said the GCF’s own portfolio was performing better than most.
“Africa is enjoying quite a substantial sum. However, we need more. The demand is huge,” she said.
The GCF, Madam Koffman said had unlocked over four billion dollars to invest in the next year, and that Africa was hoping to gain about 40 percent of it.
She stated that GCF money was concessional and designed to reduce risk that others, especially the private sector, would not take on.
“Our funding is supposed to trigger three, four, five times what we give,” she said.
Madam Koffman noted that the Fund steps in at early stages, including project development and helping institutions design pipelines, and also offers instruments such as senior loans, guarantees and equity.
She said how much of the new funding reaches Africa would depend on whether countries have bankable projects ready.
Madam Koffman described such early-stage funding as rare, saying few institutions provide it at this scale.
Asked about newly announced readiness grants, she said Ghana would receive three million dollars, adding that Mali and Burkina Faso were also among the beneficiaries explaining that the amounts differ by country, depending on what each requested.
“If you put three million dollars of readiness into something, you can unlock six billion dollars of funding,” Madam Koffman said.
On accountability, she said the Fund recently introduced a monitoring and evaluation framework. Every recipient submits an annual performance report detailing money deployed and results achieved, while monitoring criteria are set at the start of each project.
GNA
Edited by Kenneth Sackey
13 Oct. 2026
Reporter: Albert Oppong-Ansah
Email: [email protected]