By: Nana Appiah Acquaye
FSD
Africa, the British High Commission, and the Ghana Infrastructure Investment
Fund (GIIF) have launched a Green Project Preparation Facility (PPF) - a
platform designed to bridge Ghana’s infrastructure financing gap by preparing
climate-aligned projects for investment.
The
Facility was formally launched yesterday evening in Accra. The PPF, initially
capitalised with a commitment of GBP5mn from UK Government, was first announced
during President H.E. John Dramani Mahama’s visit to the United Kingdom as part
of the UK–Ghana Growth Partnership. The facility will be hosted and managed by
FSD Africa, in partnership with GIIF. It is anticipated that the PPF will grow
in size, with support from other development partners in due course.
The
PPF seeks to build a robust investible pipeline of green infrastructure
projects, reduce development risk and time to financial close, and mobilise
private capital while strengthening national delivery systems.
Mr.
Nana Dwemoh Benneh, Chief Executive Officer of the GIIF, highlighted the
significance of the new Facility for Ghana’s broader climate investment agenda.
“We are delighted to be part of this important initiative with FSD Africa and
sincerely grateful to the FCDO for its support in making this facility
possible. The PPF is both timely and strategic. It presents a significant
opportunity for GIIF and FSD Africa to collaborate in developing a robust
pipeline of bankable, climate-resilient, and investment-ready infrastructure
projects. By strengthening project preparation capabilities across both the
public and private sectors, the facility has the potential to unlock
much-needed climate and infrastructure finance, crowd in private capital, and
accelerate Ghana's transition towards a more resilient, low-carbon, and sustainable
economy”.
The
British Deputy High Commissioner to Ghana Ms. Terri Sarch reaffirmed the UK’s
long-standing commitment to supporting Ghana’s economic development,
emphasising that climate-resilient infrastructure is central to shared
prosperity.: “The UK–Ghana partnership is about turning shared ambitions into real
results. Through the Green Project Preparation Facility, we are delighted to be
partnering with FSD Africa and the Ghana Infrastructure Investment Fund (GIIF)
to turn strong Ghanaian ideas into investable projects. Further, the PPF will
help unlock much needed finance toward climate-resilient infrastructure,
improving Ghana’s ability to tackle increasing challenges posed by climate
change.” said Ms Sarch
Ghana,
in common with many of its West African neighbours and global peers, faces
intensifying climate impacts. Shifting rainfall patterns, rising sea levels and
increased flood frequency place growing pressures on urban infrastructure,
energy systems and rural livelihoods. Around a third of Ghana’s electricity
generation relies on hydropower, directly exposed to drought and erratic
rainfall, while over 40 per cent of the workforce depends on climate-sensitive
agriculture. Ghana’s exposure to these shocks makes investment in climate-resilient
infrastructure an immediate development priority.
FSD Africa is a specialist development agency working to make finance
work for Africa’s future. Headquartered in Nairobi, they operate across more
than thirty African countries through a range of funds, institutions, and
projects. The PPF will be hosted and managed by FSD Africa, in partnership with the Ghana Infrastructure Investment Fund
(GIIF). FSD Africa brings several years of direct in-country engagement,
including advisory support to the Ministry of Finance on debt management and
domestic capital market development, co-development of the Ghana Green Finance
Taxonomy, capacity-building for the National Insurance Commission on ESG
frameworks, and ongoing partnership with the GIIF to establish a dedicated
Climate Sub-Fund.
Mark
Napier, CEO of FSD Africa, welcomed the launch as a pivotal step for Ghana’s
climate finance ecosystem: “We are privileged to extend our collaboration with
Ghana by hosting the Green Project Preparation Facility. We hope that the PPF
will prove instrumental in crowding domestic private capital into a series of
important projects that will add value to the economy and boost Ghana’s climate
resilience. We look forward to the partnership with GIIF on this highly
impactful initiative”.
The
PPF is open to both public and private sector project developers working on
climate-aligned infrastructure in Ghana. Projects will be assessed on the basis
of their climate impact, financial viability and potential to attract
investment, and are expected to cover a range of priority sectors, including
renewable energy, waste and water management, urban infrastructure, transport,
housing and social infrastructure.
An
initial pilot cohort of projects is already in active preparation. The full PPF
pipeline will be developed through a structured, transparent appraisal process
in partnership with the GIIF and other Ghanaian stakeholders. Further details
on eligibility criteria, the application process and contacts can be found at http://fsdafrica.org/.
