UNCTAD estimates that meeting the needs for climate change and adaptation requires $970 billion in investment a year; there is a gap of $780 billion. While international private financing and investment has been growing, with 70 percent for renewable energy projects, only 39 percent of projects in 2021 went to developing countries and only 6 percent to Africa.

This project supports five African countries to implement climate change and energy transition strategies by mobilizing finance and investment in renewable energy. It will build beneficiary government capacity to design credible renewable energy investment strategies and projects, and support stakeholders to promote and market these opportunities to investors; focus is on building capacity of government officials and policymakers. The project will also build partnerships between member states and organizations seeking investment opportunities in renewables.

This work is expected to contribute to strengthening the capacities of the beneficiary countries to design and implement strategies to increase international private financing and investment in renewable energy, which will be demonstrated by the validation of national strategies in all five beneficiary countries and each beneficiary country having established contacts with at least 3 potential investors/financiers of renewable projects promoted through the digital e-opportunities platform and physical events.