Nigeria, Angola, Benin and Côte d’Ivoire are set to benefit from a $675 million climate financing programme aimed at improving energy supplies, water infrastructure and resilience against extreme weather.
The Green Climate Fund (GCF) approved the initiative on October 28, 2026, to support infrastructure projects capable of withstanding floods, droughts and rising temperatures.
According to a report by Business Insider Africa, the financing will support climate-resilient infrastructure across the four countries, with approximately 4.5 million people expected to benefit.
The programme will be managed by the Africa Finance Corporation (AFC) through its Africa Sovereign Climate Facility.
In addition to improving essential services, the initiative aims to reduce greenhouse gas emissions and support long-term economic development.
How will the $675 million be funded?
The Green Climate Fund has approved $274.96 million for the programme.
According to the GCF’s official project figures, approximately $255.32 million will be provided through loans, while $19.64 million will come in grants.
An additional $399.92 million in co-financing will bring the total programme value to $674.88 million.
Meanwhile, the Africa Finance Corporation has described the wider financing arrangement as a $690 million facility.
However, the GCF’s approved project record lists the programme value at $674.88 million.
The financing structure combines concessional funding with additional investment to help governments develop major infrastructure projects.
It also aims to reduce financial risks associated with climate-related investments.
Nigeria, Angola, Benin and Côte d’Ivoire to benefit
The four participating countries will receive support for infrastructure projects across several important sectors.
These include renewable energy, electricity networks, water supply, sanitation and food production.
The programme will also support infrastructure designed to withstand extreme weather conditions.
For example, investments could strengthen electricity distribution systems and improve access to reliable water supplies.
Furthermore, participating governments will receive technical assistance to prepare projects and assess climate-related risks.
The financing will be channelled through the finance ministries of the participating countries.
Specific investments will depend on the preparation and approval of individual projects.
Climate projects expected to benefit 4.5 million people
The programme aims to improve communities’ ability to cope with climate-related challenges.
According to the Green Climate Fund, approximately 4.5 million people are expected to benefit from improved climate resilience.
The projects are also projected to avoid around 3.4 million tonnes of carbon dioxide equivalent emissions over the programme’s lifetime.
These figures represent expected outcomes rather than benefits already achieved.
The results will depend on the successful development and implementation of the planned investments.
At the time the GCF published its project record, the programme had not yet entered its implementation phase.
Africa faces growing climate infrastructure challenges
Many African countries face increasing pressure from droughts, floods and rising temperatures.
These conditions can damage roads, electricity networks, agricultural production and water infrastructure.
At the same time, governments often face high borrowing costs when financing major development projects.
Limited public budgets can also delay investments needed to protect communities and support economic growth.
The new facility aims to address these challenges by combining concessional financing with additional investment.
This approach could make infrastructure projects more attractive to investors while helping governments manage financing costs.
Africa Finance Corporation backs long-term investment
Africa Finance Corporation President and Chief Executive Officer Samaila Zubairu welcomed the programme.
He emphasised the importance of developing infrastructure that supports economic growth while remaining resilient to climate pressures.
“The infrastructure we build today must both power Africa’s growth and withstand the climate pressures of tomorrow,” Zubairu said.
The new programme builds on an earlier partnership between the AFC and the Green Climate Fund.
In 2023, the GCF committed $253 million to an AFC-managed initiative supporting climate-resilient infrastructure across Africa.
The latest financing package represents another effort to expand investment in energy, water and essential infrastructure.
For Nigeria, Angola, Benin and Côte d’Ivoire, the programme offers an opportunity to strengthen public services while preparing for future climate challenges.