The Climate Finance Accelerator (CFA) Programme

The Climate Finance Accelerator (CFA) is a £12 million four-year technical assistance programme funded by the UK Government Department for Energy Security and Net Zero. It has been running for two years and currently operates in ten countries (Colombia, Egypt, Mexico, Nigeria, Peru, Pakistan, South Africa, Türkiye, Uganda, and Viet Nam). The CFA has provided capacity building support for over 135 innovative low carbon projects with a total value of over US $2.9 billion to help them. Selected from pipelines worth over US $64 billion, CFA has helped these projects develop attractive propositions for investment and hosted forums with interested investors in each country and in the City of London. 19 projects have already been successful in accessing financing of over US $286 million.

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The Climate Finance Accelerator (CFA) Programme in Uganda

The first phase of the CFA in Uganda will:

  • Source a cohort of 6-8 climate projects or businesses that are seeking investment
  • Deliver tailored capacity building to the projects with a focus on enhancing their ability to access investment
  • Convene an event to bring the projects together with investors, and other relevant stakeholders in a series of project-investor workshops.

The objective of the CFA in Uganda is to

  • Enable projects to access investment.
  • Build awareness and understanding amongst the investor community of the climate investment opportunities that exist in Uganda.
  • Build momentum and support from key stakeholders for future engagement with climate finance opportunities.


Benefits of the Program

Capacity building

Project developers will gain valuable insights and develop capabilities to make projects attractive and ready for investors. This includes benchmarking projects against what a bankable / successful project looks like, gaining confidence in speaking to financiers, and learning how to structure project financing. Exchanges of best practices with other CFA countries will also be enabled.

Access to sources of finance

The CFA provides project developers greater opportunities to access finance by working directly with potential investors to understand their needs and develop their projects accordingly. Through the CFA’s reach, project developers have the opportunity to reach commercial and concessional investors, operating both nationally and internationally.

Building networks & raising profile

Project developers will have the opportunity to raise their profile and expand their network with stakeholders across the climate finance landscape, including local and international financiers, policy makers, researchers and other private sector organisations, in addition to a cohort of projects facing similar challenges. The network will provide project developers with long-lasting benefits to current and future low carbon opportunities.

Achieving low ESG project objectives

The CFA supports projects to realise and communicate their positive impacts. The CFA has access to climate, sectoral and social impact specialists and can assist projects to support local and national climate ambitions, as well as helping to unlock co-benefits such as poverty reduction, improved gender equality and social inclusion, and tackling biodiversity loss.

Application Details

The type of projects the CFA can support

The CFA supports low carbon projects that are seeking finance. Candidate projects should:

  • Be designed to achieve measurable climate mitigation outcomes in terms of direct or facilitated greenhouse gas emission reductions.
  • Have a minimum total financing need of US$1M.
  • Be (at least) at the technical pre-feasibility stage of development.
  • Have a business model that will generate commercially attractive returns in the long-term (although some element of concessional financing may be required initially).
  • We strongly encourage projects that can demonstrate positive social impacts and how they contribute to furthering gender equality and social inclusion.

How to apply

  1. The CFA is open for applications from climate projects seeking support in accessing finance until November 24 2023.
  2. Email applications will not be considered. Please complete the detailed application at the link below.

Submission language: English

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Key Dates

16 October 2023
Call for proposals opens
31 October 2023
CFA Uganda Launch event (BHC Uganda)
24 November 2023
Call for proposals closes
December 2023
Announcement of selected projects
January - February 2024
Capacity building for selected projects
End of February 2024
CFA Uganda In-country event

Frequently Asked Questions

Does the CFA provide funding for projects?

No. The CFA does not provide or guarantee funding for projects. The CFA facilitates access to suitable investors, and provides capacity building, networking opportunities, and visibility for projects to achieve their low carbon project objectives.

Can the same project developer submit the application for several projects?

Of course! There is no limit to the number of projects that apply to the call for proposals as long they meet the requirements described above.

Will projects developed outside Uganda be considered?

No, projects are only considered in Uganda. It is possible for projects with different branches or partner projects in different countries to take part in the CFA, as long as the main project is in Uganda.

Can projects related to specific cogeneration issues be considered?

Yes, cogeneration-related projects are most welcome. Please specify how the project will cause GHG emission reductions.

Once a proposal has been submitted, can changes be made?

Once the online application has been submitted to the Accelerator, no changes can be made. A new application must be filled out if changes are required and you should notify us by email to consider only one proposal.

Should projects with total financing less than US$1M apply?

Yes, if you believe your project will make substantial positive impacts to the climate in Uganda. We will consider smaller projects on a case-by-case basis, however projects with finance need of at least US$1M are prioritised.

What financial instruments will be used for each of the projects?

Financial instruments offered by the financiers and investors will depend on the project and its characteristics, and different instruments may be used, such as green bonds, loans, equity investments and public-private partnerships, among others.

Can we submit a proposal at any time during the call for proposals stage?

Yes, but we suggest doing it sooner rather than later as we review proposals on a rolling basis.

Can we submit a proposal via email at any point during the call for proposals phase?

No, all applications must be submitted through the online questionnaire. The CFA will not accept applications received through other channels.

How CFA Uganda can work with Investors

As we enter a key decade for climate action, both Ugandan and international financial institutions are critical in supporting the development and implementation of low carbon projects to achieve national climate commitments.

The flows of climate finance depend on various elements including, crucially, a stock of strong projects being financed by willing investors, with these transactions being supported by a conducive enabling environment. Finance providers often lack familiarity with low-carbon opportunities in these markets, hence have a lower risk appetite or willingness to invest.

The Climate Finance Accelerator (CFA) has been established to support project developers and financiers work together to fund low carbon opportunities.

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By engaging with the CFA programme, financiers can benefit from:

Visibility of low carbon project pipeline

The CFA aims at providing local and international financial institutions in Uganda early visibility of, and closer engagement with, a credible pipeline of profitable low carbon projects. The projects supported by the CFA will be socially and environmentally sustainable, contributing to sustainable and inclusive development.

Best practice and capacity building

Local and international financial institutions in Uganda that engage with the CFA will benefit from the opportunity to better understand alternative financial mechanisms, such as innovative approaches to blended and green finance, as well as a deeper understanding of where projects are across the ‘climate finance supply chain’ - from project origination, to development, financing and refinancing.

Increased stakeholder networks

The CFA will enable local financial institutions to raise their profile and expand their networks. Deeper contacts will be fostered with other financiers, project developers, government representatives at national and local level, national and international development banks & agencies. The network will provide project developers with long-lasting benefits to current and future low carbon opportunities.

Sharing knowledge and skills

Local and international financial institutions in Uganda can share their knowledge and skills with project developers, to support them in building projects that are more investment-ready. This in turn will help financiers to see the level of readiness of projects.

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