African Policymakers and Experts Announce a Raft of New Initiatives at Cop29
This week, the Climate Investment Fund Capital Markets Mechanism (CCMM) announced the listing of bonds on the London Stock Exchange to promote climate finance in Africa. The CCMM raises private sector capital in international capital markets to mobilize finance in support of climate action and sustainable development, building on the repurchase of existing Clean Technology Fund projects implemented by six participating multilateral development banks over the past 16 years.
African Development Bank President Akinwumi Adesina said: “With declining levels of concessional financing and grants, new models are needed to ensure greater scale climate change for developing countries, the public and private sectors Financing. The CCMM marks the first time a multilateral climate fund has used the strength of its balance sheet to unlock much-needed climate finance.”
