Last week, the Africa Adaptation Initiative formalised it's collaboration with the Shelter Afrique Development Bank (Shelter Afrique or ShafDB) with the signing of an MoU to work together to further climate finance mobilisation for the development of a resilient housing sector in Africa.
Shelter Afrique is a multilateral development bank and is the only pan-African finance institution that exclusively supports the development of housing and urban development in Africa. Its mission is to be the pre-eminent provider of financial, advisory and research solutions geared towards addressing the housing crisis in Africa by using public-private partnerships to achieve sustainable development impact.
ShafDB and AAI have started their collaboration on mobilizing climate finance for urban infrastructure adaptation actions, including housing, its value chain and basic services. The four main aims of this collaboration include:
Increasing access to and mobilizing climate finance and investments towards housing and urban development in Africa.
Boosting on the ground housing and urban development adaptation activity across Africa and with priority to the countries vulnerable to rising sea levels.
For African cities and local authorities to have the required capacity to develop and implement adaptation best practice policy frameworks, climate-friendly and sustainable practices in Urban Management.
Support cities to have the capacity to create compelling projects that attract climate funds.
AAI will support Shelter Afrique to build climate finance mobilisation capacity and to engage in key adaptation project development and finance mobilisation efforts. AAI and Shelter Afrique will partner with AAI in many of its Flagship Programs. This will include implementing, upscaling and participating in or benefiting from AAI initiatives such as the Adaptation Project Incubator for Africa program (APIA), the Adaptation Finance Academy (AFA), the ECOVERSE program, and partner initiatives such as United Cities and Local Government Africa’s (UCLGA) African Territorial Trade and Investment Agency (ATIA)
