UK launches climate finance accelerator Nigeria, calls for proposals | The Guardian Nigeria News - Nigeria and World News

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British Government-funded 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 finance for the country’s just transition to a resilient, low-carbon economy.

Crowding in private finance at scale is essential to implementing Nigeria’s ambitious climate commitments articulated through Energy Transition Plan and Nationally Determined Contribution. A fraction of the funding necessary for the transition is considered to be available in the market, demonstrating the scale of the challenge and the immense opportunity.“I’m delighted that the Climate Finance Accelerator Nigeria is now open for applications from low-carbon projects.

“The CFA builds on the Britain’s climate leadership, as host of COP26 in Glasgow and is part of Britain’s commitment to supporting Nigeria’s transition to a prosperous low carbon future.” As a catalytic public-private initiative, CFA Nigeria offers substantial value to project developers, financial institutions and the Federal Government of Nigeria. It creates common ground for project developers and financial institutions to deploy blended finance, de-risk and fund low-carbon, resilient opportunities. It acts to improve the bankability of projects and public-private partnerships and to connect projects with financial institutions.

 

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