Environment
African Governments Lead New Push to Finance Forest Protection
Capital Ethiopia · 3 hours ago · Read the Full Story on Capital Ethiopia
AI SUMMARY
African governments are developing new financing models for forest protection, combining domestic budgets, international support, and carbon finance to support economic development.
- African governments are developing new models to finance forest protection and restoration, highlighting Ethiopia, Kenya, Nigeria, and Gabon as key examples.
- The progress report was released on September 23 during Climate Week NYC by the Forest & Climate Leaders’ Partnership.
- Forests receive less than 1% of global climate finance despite offering one-fifth of the world's cost-effective climate-mitigation potential.
- The Forest Finance Roadmap aims to help close an estimated annual forest-finance gap of US$66.8 billion.
- Africa is home to about 663 million hectares of forest, representing 16% of the world's forest area.
- Ethiopia is allocating between 0.5% and 1% of its annual budget, estimated at US$40 million to US$80 million, to the Green Legacy and Landscape Restoration Fund.
- In August, Ethiopia became the 17th country to endorse the Intergovernmental Land Tenure Commitment.
- Addis Ababa is preparing to host COP32 in 2027.
- Kenya has mobilised at least US$229 million in new external finance, including a US$200 million World Bank operation and a US$29.2 million Green Climate Fund grant.
- Kenya raised its domestic forestry budget allocation by approximately US$38.7 million in the 2025/26 fiscal year and retained about US$143.8 million for 2026/27.
- Nigeria is preparing to launch its Securing Nigeria's Forest Future Country Package internationally at COP31 in Türkiye.
- Gabon is partnering in the Central African Forest Initiative, which has a current pipeline totaling US$290 million and aims to mobilise up to US$2 billion by 2035.
- Côte d'Ivoire has introduced Africa's first Sustainability-Linked Finance Framework and secured a sovereign loan worth €433 million.
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