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Kenya

increase annual per capita water availability from 647m3 to 1000m3 by 2022

decrease emissions by 30% from the business as usual scenario by 2030

increase forest cover to at least 10% of total land area by 2022

960,000 ha forest restoration by 2030 against a 2012 baseline

281,000 ha cropland converstion to agroforest by 2030

2,275 MW geothermal capacity development by 2030

Annual per capita water availability from 647 m3 to 1000m3 by 2023

Increase forest cover to 10% of total land area; rehabilitate degraded lands, including rangelands; increase resilience of the wildlife and tourism sector by 2023 compared with a  scenario

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It is expected that USD 2.8 trillion will be needed between 2020 and 2030 for Africa to implement its Nationally Determined Contributions (NDCs). Yet, in 2019 and 2020, Africa received only 12 to 15 per cent of the required investments for climate action. The share of private climate finance in total climate finance is relatively lower than in any other emerging market globally. The main risks that deter investors from committing to African private equity include the perception of a weak exit window, currency risk, a less attractive risk/return profile than other markets, and political risk.

GCF’s equity investment in NVIIII, a USD 200 million venture capital fund, will mobilise funding for African climate ventures. The venture fund aims to support early and growth-stage companies that promote a clean, inclusive, and sustainable development path for Africa. Investments will be channelled into companies focused on three main themes: services that enable adaptation and resilience; clean technology for decarbonising economic growth; and innovative climate technology for natural resources.

Focusing on Kenya, Nigeria, Rwanda, South Africa, and Egypt, this initiative aims to scale affordable climate solutions from other markets. Each of these countries has a large climate-vulnerable population, making it essential to provide capital for companies in these areas to scale up investments in mitigation and adaptation. Through successful investments, NVIII seeks to establish a strong climate-tech innovation ecosystem by engaging key stakeholders and mobilising private sector capital.

It was developed under GCF’s Project-specific Assessment Approach (PSAA).

<p>This project aims to unlock investments for gender- and youth-inclusive early-growth adaptation SMEs in Kenya and Uganda by bridging the “missing middle” financing gap that limits their ability to scale climate solutions in the agriculture and water sectors. It supports SMEs providing locally tailored adaptation technologies and services through performance-based grants, business advisory support, and capacity building. By fostering inclusive entrepreneurship and crowding in private capital, it seeks to transform local financial markets and enhance the climate resilience of vulnerable communities, particularly women and youth.</p>

As GCF’s first dedicated livestock programme, DaIMA aims to strengthen climate resilience, reduce emissions across the dairy value chain and improve the livelihoods of dairy farmers in East Africa.

The dairy sector in East Africa, including Kenya, Rwanda, Uganda and the United Republic of Tanzania, faces significant challenges due to climate change. Dairy farming is a major contributor to these countries' greenhouse gas (GHG) emissions, and climate change's effects threaten its long-term sustainability. Many dairy farmers struggle with limited market access, challenges in sourcing local feed and fodder, inadequate extension and financial services, and difficulties in risk management. The sector is further impacted by low livestock genetic potential, herd management issues, animal diseases, insufficient extension support, limited awareness of climate-resilient and low-carbon practices and technologies, rangeland degradation and gender inequalities.

DaIMA has a comprehensive and holistic approach to improve all aspects of the dairy sector, from improving policy, institutional and service delivery environments to building the capacity of smallholder farmers, including women, youth and marginalised groups. It will improve access to finance and innovative technologies offering mitigation and adaptation benefits. As a result, dairy farmers and processors will be encouraged to adopt more efficient, climate-resilient practices that enhance incomes and lower production costs.

Key activities include strengthening national capacities and enhancing an enabling environment for a low-emission and climate-resilient dairy sector, enhancing income and productivity for smallholder dairy farmers, cooperatives and small and medium-sized enterprises (SMEs) by promoting sustainable climate-resilient and low-emission growth pathways, and establishing a Green Dairy Financing Facility in the four target countries to enhance access to finance for dairy value chain actors, including farmers, cooperatives, SMEs and technology providers.

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.

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Kenya

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