GCF moves to unlock billions for climate action in Africa

The Green Climate Fund (GCF) has opened a high-level regional dialogue in Accra to fast-track climate investment across West and Central Africa, bringing together over 200 delegates from 25 countries.

This meeting focused on practical steps to expand access to climate finance, strengthen country ownership, and turn climate priorities into bankable projects.

Participants include National Designated Authorities, Ministries of Finance, Direct Access Entities, International Accredited Entities, Readiness Delivery Partners, private sector players, civil society organisations and regional stakeholders.

Hosted by the Government of Ghana, the Dialogue was declared open by Ghana’s Deputy Minister for Finance, Thomas Nyarko Ampem, said the challenge for Africa is no longer about the need for climate finance, but the speed and scale of mobilising it.

“The question is not whether Africa needs climate finance, but how to mobilise it faster, at scale, and on terms that advance rather than constrain its development,” he said.

“Our task, therefore, is to turn priorities into projects, projects into investable pipelines, and financing into measurable development outcomes. This is where institutions such as the Green Climate Fund become indispensable,” the Deputy Minister added.

The GCF Director for Africa Region, Catherine Koffman, said the Dialogue was designed to go beyond reviewing past successes to multiplying impact across the region.

“This is the paradigm shift we seek to achieve moving beyond financing projects to transforming systems, markets, and economies at the scale required by the climate challenge,” she said.

“Delegates will examine financing structures, public-private partnerships and investment opportunities in critical sectors including urban resilience, low-emission transport, food security, clean energy and ecosystem services. The programme also features a dedicated private sector day and hands-on workshops on Readiness planning, funding proposal appraisal and accreditation.

The Accra Dialogue comes at a strategic time as the GCF launches its third replenishment process (GCF-3) and countries in the region intensify efforts to scale up climate action.

In West and Central Africa alone, the GCF has committed $2.9 billion to 80 projects, leveraging an additional $5.7 billion in co-financing to bring the total portfolio to $8.6 billion. The region accounts for 37% of GCF financing in Africa.

Organisers stressed that private capital remains central to accelerating climate solutions on the continent. Across Africa, private financing makes up 41 per cent of GCF’s portfolio, with more than half of that invested in Least Developed Countries (LDCs) and Small Island Developing States (SIDS) where private capital rarely flows.