Cuanza-Norte

Luanda

Uíge

Moxico

Cuando Cubango

Lunda-Norte

Bengo

Cuanza-Sul

Malange

Huíla

Bié

Cunene

Zaire

Namibe

Lunda-Sul

Huambo

Benguela

Cabinda

Angola

This project scales up access to climate finance in low- and middle-income countries by developing green bond markets that mobilize investment in low-emission development. It supports GCF’s strategic goal of mobilizing private finance through innovative, market-based instruments.

Scaling low-emission development in the participating countries is constrained by limited capital, underdeveloped financial ecosystems, and few instruments to attract private investment. These countries also face acute climate vulnerability and mounting risks to their economic and social systems. Strengthening local capital markets is essential to bridge financing gaps and channel resources toward mitigation priorities.

The project aims to mobilise climate finance in low- and middle-income countries by supporting the development of local green bond markets. Through a dedicated investment fund, capital from development finance institutions and private investors will be used to finance climate mitigation projects, while parallel EU-led facilities support capacity-building and lower borrowing costs for bond issuers.

 GCF will invest EUR 200 million (approximately USD 227 million) in equity through the initiative’s fund to support mitigation projects across ten participating countries. The project will prioritise small-scale, low-carbon energy systems and create investment opportunities in hard-to-abate sectors such as transport, helping to channel private capital toward national decarbonisation efforts.

Below breakdown reflects the added child country projects as well as an increase of the budget for the global coordination child project.

Local CSOs and CBOs in landscapes-seascapes around the world access grant financing and technical assistance, including capacity development and knowledge sharing to maintain and enhance their socio-ecological resilience, well-being and socio-economic conditions for global environmental benefits.

Angola, particularly the Cunene region, faces serious socio-economic challenges that increase its vulnerability to climate change. Rising temperatures, unpredictable rainfall, and frequent droughts threaten the region's rainfed agriculture. Women, who are key contributors to agricultural production, are disproportionately affected due to limited access to resources.

This project aims to address these challenges by adopting a gender-transformative approach to enable communities to better adapt to changing conditions. It focuses on sectors most affected by climate risks, such as agriculture, water, and nutrition. It invests in financial literacy and improved farming technologies and innovation, both of which will directly contribute to enhancing local adaptive capacity and transforming food systems.

The project builds on lessons from the Adaptation Fund’s initiative in the region. The establishment of Climate Change Action Centres and women-led microenterprises will serve as platforms for community-driven adaptation efforts.

It is GCF’s first single-country project in Angola and the second GCF project implemented by the Sahara and Sahel Observatory (OSS). The proposal was developed with support from GCF’s Project Preparation Facility.

Geography

Angola

Recent documents

Adaptation Fund

Climate Investment Funds

Green Climate Fund

Global Environment Facility