Lusaka, Zambia, 24 March 2026. The Government of Zambia (GoZ) has officially launched the Climate Finance Unit (CFU), led by the Ministry of Finance and National Planning (MoFNP) in close coordination with the Ministry of Green Economy and Environment (MoGEE) and other key stakeholders.

The launch took place at the Lusaka Climate Finance Week 2026 (LCFW 2026), in Zambia, which took place from March 24–26, 2026. The event convened senior government officials, financial institutions, development partners, and climate finance experts to advance policy dialogue on climate financing instruments, strengthen market readiness, and connect project proponents, developers, and financiers to unlock scalable and bankable climate investments in Zambia.

The establishment of the CFU marks a strategic step to strengthen national systems for climate finance by coordinating the mobilization, allocation, and tracking of investments. The unit will support the development of a programmatic approach that nurtures and adds value to the existing and/or new pipeline of bankable projects in key sectors, aligning climate finance and national fiscal planning, and enhancing Zambia’s access to international climate finance opportunities.

Implementing Zambia’s Nationally Determined Contribution (NDC) and National Adaptation Plan (NAP) requires approximately $55 billion by 2030. These funds will support adaptation ($26 billion) and mitigation ($29 billion) measures across priority sectors. LCFW, therefore, provides an important opportunity and platform to align public and private sectors, strengthen institutional systems, and unlock climate investment pipelines that support resilient and sustainable development.

“Climate finance is not just about funding projects, it is about safeguarding livelihoods, strengthening economic resilience, and securing a sustainable future. This moment calls for strong partnerships, stronger systems, and decisive action to turn ambition into real impact for Zambia,“ said Mr. Mulele M. Mulele, Permanent Secretary, Economic Management & Finance, Ministry of Finance and National Planning.

Echoing this, the Ministry of Green Economy and Environment emphasized the importance of translating ambition into measurable outcomes. “The credibility of Zambia’s climate ambition will not be measured by policy commitments alone, but by our ability to mobilize finance at scale, strengthen institutions, and deliver tangible results that build resilience and drive sustainable development,” said Mr. Ranford Simumbwe, Acting Permanent Secretary, Ministry of Green Economy and Environment.

Throughout the week, delegates will explore strategies to accelerate climate finance and deepen their understanding of key financing instruments, including green taxonomies, green bonds, climate change funds, and carbon markets.

The Lusaka Climate Finance Week 2026 will also facilitate peer-to-peer learning among Climate Finance Units across the region, leveraging applicable lessons learned for Zambia, with representatives from countries including Benin, Burkina Faso, Ethiopia, Rwanda, and Uganda, sharing experiences on institutional coordination and mobilizing climate finance.

Climate resilience, critical for economic growth and development, is an important pillar of the UK-Zambia partnership. The Lusaka Climate Finance Week and launch of Zambia’s Climate Finance Unit mark an important milestone in the delivery of the UK-Zambia Green Growth Compact and the UK-Zambia Climate Finance MoU. The Lusaka Climate Finance Week was organized by the Ministry of Finance and National Planning and supported by the UK through FSD Africa and the Global Green Growth Institute (GGGI).

British High Commissioner, HE Ms. Rebecca Terzeon, noted, “Delivering on the UK-Zambia Green Growth Compact, we are proud to support Zambia in strengthening its climate finance architecture. The launch of the Climate Finance Unit marks an important step towards unlocking the investment needed for a resilient and low-carbon future.”

Building on this partnership, climate finance remains critical to translating policy ambition into investment-ready opportunities.

“The establishment of Zambia’s Climate Finance Unit is an important milestone in strengthening the country’s ability to mobilize and deploy climate finance effectively,” said Mark Napier, CEO, FSD Africa. “Building strong institutional frameworks is essential to unlocking the scale of investment required to meet climate commitments and support resilient growth. At FSD Africa, we are proud to support initiatives that help governments and financial markets work together to develop bankable pipelines and attract both domestic and international capital for climate action.”

FSD Africa has previously supported numerous initiatives by the government in pursuit of green finance including the development of the Capital Markets Master plan, which ushered in a green bonds programme including the issuance of the first even green bond by Copperbelt Energy Corporation (CEC) that raised US$150M to support development of renewable energy to cushion the country from the effects of climate change.

Reinforcing the long-term institutional significance of the CFU, the Global Green Growth Institute (GGGI) highlighted its transformative role in shaping Zambia’s development trajectory. “The establishment of Zambia’s Climate Finance Unit marks a transformative step toward embedding climate action at the core of economic policy and national development. It signals a decisive shift from fragmented efforts to a coordinated, strategic approach that enables Zambia to mobilize, align, and scale climate finance for long-term impact,” said Eng. Dr. Pablo Martinez, Country Representative, Global Green Growth Institute (GGGI), Uganda, Angola, and Zambia.

The event brings together representatives from key government ministries including the Ministry of Finance and National Planning, the Ministry of Green Economy and Environment, the Ministry of Water Development and Sanitation, Ministry of Energy, and Ministry of Agriculture, alongside the central bank, commercial banks, civil society organizations, and international development organizations such as the World Bank, FSD Africa, FCDO, and GGGI.

Looking ahead, the launch of the CFU represents an important step towards building a sustainable pipeline of climate investments capable of accelerating Zambia’s green growth ambitions. Outcomes from Lusaka Climate Finance Week are expected to inform future policy development, investment strategies, and regional cooperation on climate finance.

NOTES TO EDITORS

About the Climate Finance Unit

The Zambia Climate Finance Unit (CFU) is established within the Ministry of Finance and National Planning to strengthen national coordination and mobilization of climate finance. The unit aims to support the coordination and the development of bankable projects, improve institutional articulation, and enhance Zambia’s access to international climate finance through a programmatic approach across government and private sector.

The CFU is supported under a project funded by the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) and implemented by FSD Africa and the Global Green Growth Institute (GGGI).

About FSD Africa

FSD Africa is a specialist development agency established in 2012 by the UK Government, working to make finance work for Africa’s future. We work on the ground in over 30 African countries to mobilise “green plus” finance that will power economic and social development while delivering environmental gains and building Africa’s resilience. We work on policy and regulatory reform, capacity strengthening and improving financial infrastructure, and addressing systemic challenges in Africa’s financial markets to spark large-scale and long-term change. FSD Africa has supported numerous capital markets and green finance initiatives including commissioning the Landscape of Climate Finance in Africa with CPI in 2022,  development of the Capital Markets Master Plan in 2023 and supporting the Barotse Rangelands for Restoration project in Western Zambia, supported by FSD Africa’s CAPE programme, aims to restore degraded land, improve biodiversity, and boost livelihoods through community-driven, carbon-funded management.

About Global Green Growth Institute (GGGI) 

The Global Green Growth Institute (GGGI) is a treaty-based intergovernmental organization dedicated to supporting developing and emerging countries in their transition to a green growth economic model. GGGI does this by providing policy advice, technical support, and assistance in mobilizing green investments.

Media Contact: 

Mildred Nakagwe, GGGI Uganda

mildred.nakagwe@gggi.org

Senior Manager, Advocacy, Campaigns and Partnerships

FSD Africa

Kaara@fsdafrica.org