Apply for the USAID Climate Finance for Development Accelerator

August 26, 2024 oppor4u 0 Comments Climate Finance, Climate Finance for Development Accelerator

The United States Agency for International Development (USAID) has launched the Climate Finance for Development Accelerator (CFDA), commonly referred to as “the Accelerator.” This initiative, with a budget of $250 million, aims to mobilize $2.5 billion in both public and private sector investments in climate-related projects by the year 2030. The funding will support various activities aimed at mitigating climate change and adapting to its impacts, with a focus on advancing the transition to a fair and resilient net-zero economy.

The Accelerator serves as a platform to assist countries in fulfilling their national obligations under the Paris Agreement by providing evidence-based solutions tailored to specific national circumstances and addressing deficiencies within the global, regional, and national climate finance frameworks. The initiative is structured around three primary objectives aimed at mobilizing financial resources for climate adaptation and mitigation efforts in an inclusive and equitable manner:

Objective 1: Foster and expand effective partnerships and innovative investment solutions to drive transformational change in the countries where USAID operates.

Objective 2: Enhance the enabling environment and broaden participation in climate finance, thereby increasing the diversity of stakeholders involved in climate solutions.

Objective 3: Strengthen both local and global capacities to attract additional resources into climate finance.

The USAID Climate Finance for Development Accelerator presents several key features, including:

The creation of a partnership portal that serves as a gateway for private sector entities, foundations, and other stakeholders interested in providing catalytic support for climate investments that align with USAID objectives and the commitments outlined in the Paris Agreement, facilitating their entry into the Accelerator-managed Climate Finance Investment Network (CFIN).
The engagement of partners through the CFIN to enhance the climate finance ecosystem, thereby attracting private sector investment through educational initiatives, partnership facilitation, and catalytic grants.
The provision of support to USAID missions and local partners in understanding and formulating evidence-based solutions that address existing gaps and barriers within local climate finance ecosystems, which currently hinder the effective deployment of increased climate finance.
The empowerment of local stakeholders, marginalized communities, and underrepresented groups to access climate finance and take a leading role in achieving climate objectives through collaborative efforts, partnership matchmaking, and assistance in becoming direct recipients of USAID subcontracts and grants.

Application for the USAID Climate Finance Development Accelerator