Ghana has launched a new facility aimed at turning climate-focused infrastructure ideas into investment-ready projects as the country seeks to attract more private capital to address its infrastructure financing needs.
The Green Project Preparation Facility (PPF) was launched in Accra by FSD Africa, the British High Commission and the Ghana Infrastructure Investment Fund (GIIF).
The United Kingdom has committed an initial £5 million to capitalise the facility, which will be hosted and managed by FSD Africa in partnership with GIIF.
The facility was first announced during President John Dramani Mahama’s visit to the United Kingdom under the UK-Ghana Growth Partnership.
It is expected to support the preparation of a pipeline of bankable, climate-resilient projects, reduce development risks and make them more attractive to private investors and other sources of climate finance.
The initiative will also be open to public and private sector developers working on projects in renewable energy, transport, water and waste management, housing, urban development and social infrastructure.
Mr Nana Dwemoh Benneh, Chief Executive Officer of GIIF, described the facility as a timely intervention for Ghana’s climate investment agenda.
He said many potentially valuable infrastructure projects struggled to attract funding because they were not sufficiently prepared to meet the requirements of investors and financiers.
The new facility, he said, would help address that challenge by supporting the development of projects that were financially viable, climate-resilient and ready for investment.
Mr Benneh said stronger project preparation in both the public and private sectors would help unlock climate finance, attract private capital and accelerate Ghana’s transition to a low-carbon and resilient economy.
The British Deputy High Commissioner in Accra, Ms Terri Sarch, said the United Kingdom remained committed to supporting Ghana’s economic development through investment in climate-resilient infrastructure.
She said the facility would help transform viable Ghanaian projects into investment-ready opportunities while mobilising financing to address the country’s growing climate-related challenges.
Ms Sarch said Ghana was increasingly exposed to changing rainfall patterns, rising sea levels and frequent flooding, all of which posed risks to infrastructure, energy systems and agriculture.
She noted that climate resilience was particularly important because about one-third of Ghana’s electricity generation depended on hydropower, while more than 40 per cent of the workforce relied on climate-sensitive agriculture.
Mr Mark Napier, Chief Executive Officer of FSD Africa, said the organisation was pleased to host the facility and strengthen its partnership with Ghana.
He expressed the hope that the initiative would help mobilise domestic private capital for strategic infrastructure projects, improve climate resilience and create greater value for the Ghanaian economy.
Projects seeking support under the facility will be assessed based on their climate impact, financial viability and potential to attract investment.
An initial group of pilot projects is already being prepared through a transparent appraisal process involving GIIF and other Ghanaian stakeholders.
The facility is expected to expand over time as additional development partners provide support.
