Enhancing Direct Access to Climate Finance for Adaptation in Ghana

Adaptation Need

Ghana is experiencing rising temperatures, reduced levels of rainfall, and increasingly erratic rainfall patterns across all ecological zones. Climate change projections indicate continued adverse impacts on vulnerable sectors, including agriculture, energy, transport, forestry, health, water resources, and tourism. The World Bank estimates that Ghana could lose up to 1.7% of GDP per year by 2050 due to climate-related infrastructure disruption if no action is taken. With these growing concerns, the government of Ghana gives high priority to climate adaptation strategies. Ghana requires between US$9.3 and $15.5 billion of investment to implement the measures in its updated Nationally Determined Contribution (NDC), from 2020 to 2030. While mobilising substantial domestic funding, Ghana relies on international support to finance all the 13 adaptation measures outlined in its NDC and achieve its 2030 contributions.

GCA’s Added Value

Together with a Ghana Infrastructure Investment Facility (GIIF) task team, GCA carried out a gap assessment of the facility’s existing governance structures and operational mechanisms, subsequently developing a roadmap to address identified gaps. Targeted Technical Assistance was then provided for updating or developing new procedures, policies, frameworks, systems, and other related documentation as needed, to complete GIIF’s accreditation package and ensure all reflect relevant national regulations, follow international best practices and meet GCF’s requirements. GCA provided inputs in developing new policies including Gender Action Plan, Sustainability Policy, Information Disclosure Policy, M&E Guidelines, Policy on Prohibited Practice, Protection of Whistleblowers and Witness Policy, and a Management Tree document. The finalized accreditation package was submitted to the GCF in the fourth quarter of 2023.