Climate Finance 2023: Morocco 4th beneficiary in Africa

The ambitious climate change mitigation strategies implemented by some African countries are beginning to bear fruit, resulting in significant funding from multilateral development banks (MDBs). Although the continent emits few greenhouse gases, it is severely affected by the impacts of climate change.

In 2023, many African countries received substantial climate funding. Leading the list are Egypt, South Africa, and Ethiopia, with $2.019 billion, $1.672 billion, and $1.392 billion respectively. Following them in the rankings, Morocco ranks 4th with $1.195 billion, followed by Kenya ($1.115 billion), Côte d’Ivoire ($1.064 billion), Nigeria ($1.023 billion), Tanzania ($1.015 billion), Senegal ($897 million), and finally the DRC, which rounds out the top 10 with $885 million received.

These funds reflect not only the economic development level of these countries but also their vulnerability to climate impacts. While countries like Egypt and South Africa focus their efforts on mitigating greenhouse gas emissions, others like Ethiopia, Kenya, and Tanzania primarily concentrate on adapting to climate change.

The ambitious strategies of certain countries have been particularly rewarded, such as Morocco, which has distinguished itself through its national initiatives for a low-carbon economy.

Ranking of the most funded countries in 2023 (in millions of dollars):

Source: Joint Report on Multilateral Development Bank Climate Finance 2023

These results also show a regional disparity, with a strong concentration of funding in North and East Africa, while Central Africa, with the exception of the DRC, remains on the sidelines of this distribution.