Creation of Africa Green Finance Coalition hailed as “ground-breaking” moment for funding of continent’s green transition

Nairobi: November 2, 2021

FSD Africa welcomes the Africa Green Finance Coalition, launched at the COP26 World Leaders Summit with the aim of closing the continent’s green finance gap through financial sector reforms, technical assistance, and peer learning.

FSD Africa welcomes the announcement at the COP26 World Leaders Summit that African nations will come together to create the Africa Green Finance Coalition (AGFC).

The AGFC brings together all the countries of Africa to pool resources, share learning and create a pathway for increased flows of green investment capital to the continent. It will facilitate learning and technical assistance across countries, while a peer review mechanism will hold members to account on their commitments to the necessary reforms.

The Africa Green Finance Coalition is exciting because it shows African countries working together and with a high level of ambition to put in place the policy and regulatory reforms that will allow them to compete effectively for the billions of dollars that are potentially available for decarbonisation and adaptation.  We warmly welcome this ground-breaking initiative and look forward to supporting its further development.
Mark Napier, CEO

The AGFC was presented to world leaders by Ukur Yatani, Cabinet Secretary for Kenya’s National Treasury, and Seyni Nafo, Spokesperson of the Africa Group of Negotiators, on day two of the COP26 climate summit.