Africa’s urban population is projected to double by 2050, creating rising demand for reliable public transport and last-mile mobility services.
- Country:
- Ivory Coast
The African Development Bank-led Green Mobility Financing Facility for Africa (GMFA) is set to expand its support for clean transport after receiving $13.46 million in new funding from the Global Environment Facility (GEF).
Approved on 18 June 2026, the package includes a $12.46 million concessional loan and a $1 million technical assistance grant. The funding will help the facility attract greater private investment in low-emission transport systems while supporting African countries in reducing greenhouse gas emissions and improving urban mobility.
The GMFA uses blended finance, concessional lending and credit enhancement tools alongside technical support to encourage investment in sustainable transport projects that might otherwise struggle to secure financing.
Clean transport needed as cities continue to grow
Africa’s urban population is projected to double by 2050, creating rising demand for reliable public transport and last-mile mobility services. This rapid growth is also expected to increase traffic congestion, air pollution and climate-related challenges if cleaner transport options are not introduced at scale.
Despite growing interest in electric mobility, investment across the continent has remained limited to small pilot projects. High upfront costs, limited access to long-term financing, technology risks and insufficient market readiness have slowed wider adoption of electric transport systems.
The new GEF funding is intended to help overcome these barriers by supporting the operational rollout of the financing facility and encouraging larger public and private investments.
Facility to support a wide range of green technologies
The Green Mobility Financing Facility for Africa will finance several forms of sustainable transport infrastructure and technology. Planned investments include electric buses, electric motorcycles and three-wheelers, renewable energy-powered charging stations, battery-swapping facilities and electric vehicle manufacturing.
The African Development Bank first introduced the facility during the 2026 Global Environment Facility Integrated Programs Forum in Nairobi, presenting it as a practical model for using blended finance to attract private sector investment for climate action.
Speaking at the event, African Development Bank Climate Finance Expert Komal Hassamal said structured financing, combined with policy reforms and market support, is essential for moving electric mobility beyond isolated pilot projects and into large-scale deployment across Africa.
Larger investment pipeline under development
Building on the GEF’s support, the African Development Bank is mobilising additional repment partners to support at least $169 million in sustainable transport investments across the continent
The initiative is also backed by partners including the Korea-Africa Economic Cooperation Trust Fund (KOAFEC), the Sustainable Energy Fund for Africa (SEFA) and the Fund for African Private Sector Assistance (FAPA). These partnerships will help strengthen regulatory frameworks, prepare investment-ready projects, develop sustainable business models and build a stronger pipeline of green mobility initiatives across Africa.
