The Investment Mobilisation Collaboration Alliance (IMCA) has announced a major milestone in climate finance with the launch of the Adaptation Finance Window for Africa, supported through a new grant aimed at mobilizing over USD 100 million in private investment for climate adaptation initiatives across the continent.
This new funding window is designed to accelerate investment in high-impact, climate-resilient projects, including climate-smart agriculture, coastal protection, nature-based solutions, sustainable infrastructure, and technologies that mitigate the effects of extreme heat, displacement, and migration. It reflects IMCA’s mission to attract private capital into climate adaptation an urgent need given that Africa currently receives only about 15% of the adaptation funding it requires annually.
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Launched in 2023, IMCA is a global partnership led by Nordic governments including Denmark, Sweden, Norway, Finland, and Iceland along with key agencies like Impact Fund Denmark, Sida, and the Nordic Development Fund. The alliance collaborates with observers such as the UK and Canada and partners including Convergence and the ClimateWorks Foundation. Together, these entities are working to create a robust pipeline of investable projects that can attract both concessional and private capital for large-scale climate action.
The Adaptation Finance Window for Africa builds upon the success of IMCA’s first Global Adaptation Finance Window, launched during COP28 in 2023, which drew over 40 applications from fund managers and has already mobilized significant private investment. Given the estimated USD 50 billion annual adaptation finance gap facing Africa, this initiative serves as an innovative and replicable model to bridge funding shortfalls.
Philanthropic organizations, in partnership with Nordic government funding, are playing a pivotal role in advancing this initiative. Their combined efforts are designed to complement not replace traditional development finance, creating a blended finance model that maximizes the strengths of each contributor. The World Climate Foundation, IMCA’s operating partner, will oversee the implementation of the new funding window with support from Magnitude Global Finance, a sustainable finance advisory firm that will guide the fund selection process.
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Leaders from the participating organizations have emphasized the importance of collaboration in driving climate resilience. Jesper Hilsted Andersen of the Danish Ministry of Foreign Affairs highlighted Denmark’s commitment to “unlocking scalable climate solutions through strategic partnerships,” while Jens Nielsen, CEO of the World Climate Foundation, stressed that the initiative “marks an important step toward scaling climate finance and advancing the Sustainable Development Goals.” Jessica Brown of the ClimateWorks Foundation further noted the importance of leveraging philanthropy alongside public and private sectors to accelerate adaptation at the speed the climate crisis demands.
The expected outcomes from this initiative include the launch of two or more investment funds, the mobilization of over USD 100 million, the development of shared learning tools and common metrics, and the growth of adaptation as a mainstream investment theme.
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By combining philanthropy, public capital, and private investment, IMCA’s Adaptation Finance Window for Africa represents a transformative step toward building climate resilience across the continent—and a blueprint for how blended finance can drive meaningful, scalable impact in the fight against climate change.
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