An Africa Business Community
As one of the main implementers of the Climate Investment Funds (CIF) in Africa, the African Development Bank (AfDB) will host the 2011 CIF Partnership Forum in Cape Town, South Africa from 24-25 June 2011. AfDB Vice President, Bobby Pittman, is expected to give opening remarks and welcome over 400 delegates expected from recipient countries, other multilateral development banks, UN agencies, donor countries and other stakeholders.
The CIF are designed to contribute to effective, global climate change solutions by sharing lessons and experiences in an inclusive, transparent and strategic manner. The CIF Partnership Forum is an annual gathering for all stakeholders to engage in dialogue on the CIFs’ strategic directions, results and impacts. It provides an opportunity to deepen global understanding of climate change and development in the CIF context.
The AfDB, in collaboration with the CIF Administrative Unit housed at the World Bank, is already planning the event, which will feature sessions on private sector engagement in mitigation and adaptation investments, scientific updates and guidance on prioritizing actions, climate modeling, and the development of local, clean energy manufacturing industries.
The Forum program is structured around plenary sessions engaging the voices of all stakeholders and open panel discussions exploring ways to maximize CIF impact at the sectoral level. There will also be a learning symposium on latest developments in climate science and technology, and a poster exhibit showcasing CIF pilot countries’ evolving CIF programs and projects.
The CIF are a pair of financing instruments worth USD 6.5 billion designed to promote transformational change towards low-carbon and climate-resilient development through scaled-up financing channeled through multilateral development banks (MDBs). The AfDB will be channeling approximately USD 900 million in CIF funding, as well as leveraging addition funding from its own resources and other co-financers, to support 13 African nations and the MENA region in implementing clean technology and climate resilience projects.