The Africa Adaptation Acceleration Program (AAAP) has been recognized as the “Best Investable NDC Adaptation Investment Initiative of the Year” at the 2024 African NDC Investment Awards. The award was presented at the African NDC Institutional Investment Summit in New York, alongside the United Nations General Assembly, and honors AAAP’s pioneering efforts to accelerate climate adaptation across Africa.
Launched by the African Development Bank and the Global Center on Adaptation (GCA) in 2021, AAAP aims to mobilize $25 billion by 2025 for transformative climate adaptation projects across Africa. So far, the Bank has committed $12.5 billion, and by the end of 2023, it had raised $9.22 billion.
Sponsored by the African Green Infrastructure Investment Bank and presented by Africa Investor Magazine, the award recognizes projects that successfully advance Nationally Determined Contributions (NDCs) by mobilizing private climate finance and improving investment readiness. To meet Africa’s climate goals, over $3 trillion in funding is required by 2030.
Professor Anthony Nyong, Director for Climate Change and Green Growth at the African Development Bank, accepted the award, emphasizing the program’s success in transforming lives through resilient infrastructure, food security, and youth entrepreneurship. He highlighted AAAP’s significant progress in climate adaptation across 38 African Development Bank operations in 41 countries, benefiting millions of people in sectors like agriculture, energy, and urban development.
AAAP also focuses on youth entrepreneurship, with $5.5 million invested in 41 young climate innovators across 20 countries, positioning Africa’s youth as leaders in climate adaptation. The program has implemented 17 food security projects in regions like the Sahel and Horn of Africa, improving resilience for 9.4 million people, while its infrastructure projects span 23 countries.
Moreover, AAAP’s Technical Assistance Program has helped 14 African entities gain accreditation with the Green Climate Fund, enabling them to access climate finance. This has led to over $250 million being mobilized, benefiting millions in countries such as Kenya, Ethiopia, and South Sudan.
AAAP’s achievements have gained international recognition, with its model being considered for adoption in Asia and discussions underway to extend it to small island developing states.
Richard Uku, representing GCA’s CEO, praised the program’s success, stating that AAAP exemplifies the power of partnership in achieving impactful and scalable climate adaptation.
The AAAP, a joint initiative between the African Development Bank and GCA, seeks to mobilize $25 billion over five years to enhance Africa’s climate resilience. Since its launch, it has integrated climate adaptation measures into over $10 billion in investments across the continent, impacting millions of lives.
