Multinational - African Carbon Support Project


Project Summary

Approval Date 27 Nov 2009
Signature Date 04 Nov 2010
Planned Completion Date 30 Mar 2014
Last Disbursement Planned Date 15 Apr 2014
Sovereign / Non-Sovereign Sovereign
Sector Environment
DAC Sector Code 41010
Commitment U.A 593,189.4
Status Completion

Project General Description

The African Carbon Support Project (ACSP) is designed to assist project developers in the continent in accessing carbon finance to ensure the commercial feasibility of their projects. The ACSP represents a major milestone for the AfDB and Africa, particularly because it will help African RMCs to access a greater share of the USD 2-3 billion per annum currently being traded through the Clean Development Mechanism (CDM). It is in line with current efforts by AfDB to establish instruments that will enhance the participation of African countries in the carbon markets. The project will help the Bank, regional members and borrowers to implement the CDM mechanism established by the Kyoto Protocol and reiterated Japan’s commitment to supporting African development through FAPA. Essentially, the program involves a screening process whereby the carbon finance potential of investment proposals received by the Bank is identified and assessed. At the same time, capacity building activities will be undertaken for host country government agencies. The capacity building program will highlight the policy and operational implications of outcomes from current and emerging discussions on global carbon finance frameworks. The program will also seek to highlight research findings in the area of climate change vulnerability and adaptation options.

Project Objectives

The program is geared toward assisting Bank clients in regional member countries to access carbon finance in order to ensure the commercial viability of their investments. The ACSP will also help (i) develop appropriate preparation documentation for specific projects able to benefit from the carbon finance mechanism; (ii) support the development of regional grid emission factor(s); (III) successfully commercialize the carbon potential of projects.

Participating Organization

Funding
Fund for African Private Sector Assistance
Implementing
African Development Bank

Information

IATI identifier 46002-P-Z1-C00-017
Last Update 04 Dec 2020

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Contact Details

Email fapa@afdb.org

Geographic Location

Country Multinational