A new £5 million Green Project Preparation Facility has been launched in Accra to bridge Ghana's infrastructure financing gap by preparing climate-aligned projects for investment, in a move that seeks to accelerate the country's transition towards a more resilient, low-carbon economy.
The Facility, formally launched on Thursday evening, was first announced during President John Dramani Mahama's visit to the United Kingdom as part of the UK–Ghana Growth Partnership. It will be hosted and managed by FSD Africa, the specialist development agency, in partnership with the Ghana Infrastructure Investment Fund (GIIF), with initial capitalisation of £5 million from the UK Government.
Speaking at the launch, Mr. Nana Dwemoh Benneh, Chief Executive Officer of GIIF, described the initiative as both timely and strategic. "We are delighted to be part of this important initiative with FSD Africa and sincerely grateful to the FCDO for its support in making this facility possible," he said. "The PPF presents a significant opportunity for GIIF and FSD Africa to collaborate in developing a robust pipeline of bankable, climate-resilient, and investment-ready infrastructure projects."
The Facility seeks to build a robust pipeline of green infrastructure projects, reduce development risk and time to financial close, and mobilise private capital while strengthening national delivery systems. It is open to both public and private sector project developers working on climate-aligned infrastructure in Ghana, with projects assessed on climate impact, financial viability, and potential to attract investment. Priority sectors include renewable energy, waste and water management, urban infrastructure, transport, housing and social infrastructure.
The British Deputy High Commissioner to Ghana, Ms. Terri Sarch, reaffirmed the UK's long-standing commitment to supporting Ghana's economic development. "The UK–Ghana partnership is about turning shared ambitions into real results. Through the Green Project Preparation Facility, we are delighted to be partnering with FSD Africa and GIIF to turn strong Ghanaian ideas into investable projects," she said. "The PPF will help unlock much needed finance toward climate-resilient infrastructure, improving Ghana's ability to tackle increasing challenges posed by climate change."
The launch comes as Ghana, like many of its West African neighbours, faces intensifying climate impacts. Shifting rainfall patterns, rising sea levels and increased flood frequency place growing pressures on urban infrastructure, energy systems and rural livelihoods. Around a third of Ghana's electricity generation relies on hydropower, directly exposed to drought and erratic rainfall, while more than 40 per cent of the workforce depends on climate-sensitive agriculture.
Mark Napier, CEO of FSD Africa, welcomed the launch as a pivotal step for Ghana's climate finance ecosystem. "We are privileged to extend our collaboration with Ghana by hosting the Green Project Preparation Facility," he said. "We hope that the PPF will prove instrumental in crowding domestic private capital into a series of important projects that will add value to the economy and boost Ghana's climate resilience."
FSD Africa brings several years of direct engagement in Ghana, including advisory support to the Ministry of Finance on debt management and domestic capital market development, co-development of the Ghana Green Finance Taxonomy, capacity-building for the National Insurance Commission on ESG frameworks, and ongoing partnership with GIIF to establish a dedicated Climate Sub-Fund.
An initial pilot cohort of projects is already in active preparation, with the full PPF pipeline to be developed through a structured, transparent appraisal process in partnership with GIIF and other Ghanaian stakeholders.