The Climate Finance Accelerator (CFA) is a global technical assistance programme funded by the UK government to directly support climate projects to access finance. The CFA operates in nine countries (Nigeria, Colombia, South Africa, Türkiye, Mexico, Peru, Pakistan, Egypt, and Vietnam) with the aim of encouraging the flows of finance required to deliver on countries’ ambition to limit global warming to 1.5°C.
In Nigeria, the CFA brings together the key actors in the climate finance investment chain: project proponents and developers, finance providers, and policymakers.
Its aim is to facilitate a collaborative approach to unlocking finance for climate projects at scale and creating a pipeline of ‘investment ready’ low carbon projects.
The CFA also seeks to deliver several co-benefits, such as supporting a just transition and green recovery efforts from COVID-19 through inclusive approaches to sustainable development, improved gender equality, and building resilience to climate impacts.
By engaging with the CFA programme, project developers can benefit from:
- Access to investors
- Coaching and best practice insights
- Networking opportunities
- Increased visibility
- Achieving low carbon project objectives
CFA Nigeria supports low carbon projects that are seeking finance. Candidate projects should:
- Be designed to achieve measurable climate outcomes in terms of direct or facilitated greenhouse gas emission reductions;
- Have a minimum total financing need of $5M;
- Have an already proven concept, beyond feasibility stage, with distinct elements of scalability (especially if below $10m);
- Have a business model that will generate commercially viable returns in the long-term (although some element of concessional financing may be required initially);
- Demonstrate positive social impacts and contribute to furthering gender equality and social inclusion
Application Deadline – February 17, 2023