Current adaptation finance flows to Africa are insufficient to meet growing adaptation needs on the continent. This report provides an overview of existing adaptation finance flows in Africa and identifies opportunities to increase the volume and efficacy of that finance. The core objectives of this report are to:

• Assess the state of adaptation finance and risk-finance mechanisms already available and in use in Africa.
• Analyze African financial market readiness for climate adaptation finance and risk finance mechanisms.
• Identify gaps where climate risk exists yet there is insufficient finance to address it, as well as the barriers to implementation.
• Propose solutions to increase the volume and variety of capital available for adaptation finance and risk transfer mechanisms in Africa and to enable pipelines for adaptation and dual benefits projects in the region.