ADDIS ABABA, ETHIOPIA – September 9, 2025 – The Global Green Growth Institute (GGGI) and the Swedish International Development Cooperation Agency (Sida) have launched the Leveraging Investments and Finance for a Green Transition (LIFT) initiative to accelerate climate finance and green transition efforts across Africa. The announcement was made during a high-level side event at the 2^nd Africa Climate Summit (ACS2).

LIFT aims to boost Africa’s access to climate finance and close the funding gap for green development by supporting governments, financial institutions, and local organizations in mobilizing new resources for climate-resilient development.

With Africa requiring an estimated USD 1.1–2.8 trillion by 2030 to deliver on its climate pledges, but receiving only USD 43.7 billion annually, the financing gap remains one of the greatest obstacles to the continent’s green transition. LIFT is designed to address this challenge by strengthening institutional capacity, including support for accreditation to multilateral climate funds such as the Green Climate Fund and Adaptation Fund; developing high-quality, bankable project proposals to attract both public and private climate finance; and mobilizing domestic resources by enabling commercial banks and financial institutions to expand their green lending portfolios, positioning green finance as a mainstream investment pathway.

The program is expected to mobilize at least USD 50 million in climate finance during its initial phase (2025–2027), with a geographic focus on partner countries including Rwanda, Uganda, Kenya, Tanzania, Zambia, Liberia, Zimbabwe, Mozambique, Ethiopia, Somalia, Sudan, and the Democratic Republic of Congo.

“By launching LIFT today, Sida demonstrates its strong commitment to ensuring Africa’s most climate-vulnerable countries gain direct access to the finance they urgently need,” said Mr. Jakob Granit, Director-General of Sida. “This program builds on Sweden’s long-standing partnership with Africa and reflects our ambition to support poverty reduction, resilience, and inclusive green growth.”

“GGGI is proud to join Sida in launching LIFT, which brings practical, tailored solutions to the financing challenges countries face,” said Mr. Sang-Hyup Kim, Director-General of GGGI. “Our embedded teams across Africa work directly with ministries, banks, and local organizations to prepare bankable projects and attract investment. Through LIFT, we will ensure that finance flows not only increase in volume but also reach women, youth, and communities on the frontlines of climate change,” he added.

The launch of LIFT builds on Sida and GGGI’s ongoing collaboration under the Green Transition Mechanism, which supports partner countries in accessing multilateral climate funds, strengthening institutional readiness, and piloting green finance instruments. By combining Sida’s financial instruments with GGGI’s technical expertise and country presence, the partnership seeks to demonstrate a replicable model for mobilizing both public and private finance.

LIFT will be implemented in close cooperation with Swedish embassies, partner governments, commercial banks, and development organizations. The initiative complements other regional and global programs supported by Sida and GGGI, reinforcing Sweden’s role as a leading donor in climate finance and GGGI’s mandate to promote green growth worldwide.

On the sidelines of the launch of this initiative, the two organizations held a high-level meeting to align priorities under Sweden’s evolving aid strategy and GGGI’s operational focus in Africa and other regions.

“Sida has been a catalytic partner in advancing climate finance and resilience. Together, we are committed to unlocking innovative financing solutions that deliver long-term impact for communities and ecosystems,” said Mr. Sang-Hyup Kim, Director-General of GGGI.

The meeting reaffirmed the importance of scaling access to international and domestic capital for climate action, strengthening institutional systems to enable countries to access and manage climate finance effectively, and expanding joint work on green bonds, thematic financing instruments, and carbon market readiness. Looking ahead, both parties also emphasized the need to ensure that women, youth, and vulnerable communities benefit from climate finance and green transition initiatives.

About Africa Climate Summit 2

The Second Africa Climate Summit (ACS2) is co-convened by the African Union Commission and hosted by the Government of Ethiopia. It will be held from September 8-10, 2025, in Addis Ababa, Ethiopia. The summit’s theme is “Accelerating Global Climate Solutions: Financing for Africa’s Resilient and Green Development.” The purpose of the event is to unify Africa’s position ahead of COP30, advocate for a more equitable global climate finance system, and showcase Africa-led climate solutions. The summit’s official website is https://africaclimatesummit2.et/.

About SIDA
The Swedish International Development Cooperation Agency (Sida) is Sweden’s government agency for development cooperation. Sida works on behalf of the Swedish Parliament and Government to reduce poverty and support sustainable development in partner countries.

About GGGI
The Global Green Growth Institute (GGGI) is an intergovernmental organization dedicated to supporting and promoting strong, inclusive, and sustainable economic growth in developing countries and emerging economies. GGGI works in over 50 countries with governments, investors, and partners to advance climate action and green growth.

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For more information, visit:  https://gggi.org

To learn more about the program:

Ali Haider, Program Lead, LIFT

E-mail: ali.haider@gggi.org