Climate Financing: Global Imperatives and Implications for Sustainable Climate Resilient Development in Africa

The technical document outlines the major sources of international climate finance. It examines, to the extent that information is available, the level of finance that goes into supporting climate change activities in Africa. The paper provides a general assessment of existing financial mechanisms with a view to drawing lessons. Finally, it discusses questions of needs and vulnerability assessment in relation to climate change and financial support in Africa. It concludes that, while there are governance constraints at the global level, African countries need to work, with the support of developed countries, towards stimulating effective domestic demand for climate adaptation and mitigation funds and improving the absorptive capacity of African countries to effectively deploy climate funds.