IMF Working Papers

Laying the Ground for Scaling up Climate Finance in Sub-Saharan Africa

By Edward R Gemayel, Samuele Rosa, Vidhi Maheshwari, Christoph Ungerer, Peter Lindner

May 23, 2025

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Format: Chicago

Edward R Gemayel, Samuele Rosa, Vidhi Maheshwari, Christoph Ungerer, and Peter Lindner. "Laying the Ground for Scaling up Climate Finance in Sub-Saharan Africa", IMF Working Papers 2025, 099 (2025), accessed June 17, 2025, https://doi.org/10.5089/9798229004091.001

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Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Sub-Saharan Africa (SSA) faces growing climate vulnerability, with rising temperatures and extreme weather threatening agriculture, food security, and economic growth. These challenges worsen poverty, fiscal constraints, and limited human capital investment. To address these risks, SSA countries need to scale up green investments while ensuring debt sustainability. Given insufficient traditional public financing, a mix of grants, concessional debt, and private investments is crucial. This paper presents survey results on climate finance in SSA and introduces the Climate Finance Preparedness Index (CFPI) to assess countries' readiness for green financing, highlighting the need for policy reforms, institutional strengthening, and innovative financial products.

Subject: Climate change, Climate finance, Climate policy, Environment, Natural disasters

Keywords: Africa, Climate change, Climate change adaptation, Climate finance, Climate finance product, Climate financing, Climate policy, East Africa, Global, IMF country work, IMF working papers, Mitigation and resilience, Mitigation investment, Natural disasters, Public financial management (PFM), SSA country, Sub-Saharan Africa, Sub-Saharan Africa (SSA)

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