Innovative Climate Finance Accelerator (CFA) Launches in Uganda to Combat Climate Change

Bethel Advisors who are the in-country partners and local CFA implementers

HABARI DAILY I Kampala, Uganda I The Climate Finance Accelerator (CFA) programme, renowned for fostering climate-friendly initiatives globally, has officially kicked off in Uganda. The launch event, hosted at the British High Commission in Kampala, marked the beginning of CFA Uganda’s mission to identify and support projects combating climate change in the region.

CFA Uganda is on the lookout for innovative projects in the energy, water, smart agriculture, clean transport, waste management, forestry, and circular economy sectors. Anticipating the selection of between six and eight projects, the program seeks initiatives at least in the pre-feasibility stage and requires a minimum investment of USD$1 million.

The call for proposals is open until November 24, encouraging potential projects to submit applications online. Selected projects will receive comprehensive assistance from technical and financial experts, aiming to enhance their investment attractiveness. 

Support includes refining financial models, guidance on investor pitching, and strategies to integrate gender equality and social inclusion into business practices, supporting women and disadvantaged communities. In late February, a final event will provide a platform for selected projects to present to potential investors and financiers.

Funded by the UK Government, CFA Uganda aligns with Uganda’s Nationally Determined Contribution under the Paris Climate Agreement. The program aims to bring together stakeholders capable of developing and financing climate projects at a substantial scale.

Kate Airey, the British High Commissioner, expressed her excitement, stating, “I’m delighted to be able to launch CFA Uganda and welcome applications from projects that are helping to reduce carbon emissions in Uganda.” Airey highlighted the success of CFA in nine other countries, emphasizing the program’s potential to discover innovative, climate-smart projects in Uganda.

CFA Uganda’s implementation is entrusted to Bethel Advisors, the in-country partner, whose Managing Director, Amanda Kabagambe, stated, “This program will enable us to continue to close the access to finance gap, secure jobs, and contribute to a green transition in Uganda.”

The CFA operates globally in ten countries, including Colombia, Egypt, Mexico, Nigeria, Pakistan, Peru, South Africa, Türkiye, Uganda, and Viet Nam. Functioning as a technical assistance program, it aims to establish a sustainable pipeline of bankable, low-carbon projects in each country.

The initiative is part of the UK’s broader commitment to supporting global climate action, facilitating access to finance, and assisting governments in achieving their climate targets under the Paris Agreement. As CFA Uganda gains momentum, it holds the promise of propelling the nation towards a more sustainable and climate-resilient future.

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