The Investment Mobilisation Collaboration Alliance (IMCA) is stepping up to address Africa’s urgent climate adaptation needs with the launch of a new Adaptation Finance Window for Africa. The initiative aims to mobilize over USD 100 million in private capital to fund high-impact climate solutions, including climate-smart agriculture, coastal resilience, nature-based solutions, climate-resilient infrastructure, and technologies tackling extreme heat and climate-related migration.

IMCA, a global initiative led by the Nordic governments, has been building investment pipelines since its 2023 launch to channel concessional public finance into scalable private-sector climate action in emerging markets. Its members include Denmark, Sweden, Norway, Finland, Iceland, and the Nordic Development Fund, with observers like the UK and Canada and partners such as Convergence and ClimateWorks Foundation.

The new window builds on IMCA’s Global Adaptation Finance Window, first unveiled at COP28 in 2023. That program drew more than 40 fund manager applications, signaling strong interest from the private sector and highlighting the potential to bridge Africa’s adaptation finance gap, which currently reaches nearly USD 50 billion per year.

With traditional foreign aid budgets dwindling, adaptation finance in Africa has lagged, covering only about 15% of the continent’s needs. IMCA’s approach leverages philanthropy alongside concessional capital from Nordic governments to create a blended finance model that can unlock investable adaptation projects. Magnitude Global Finance, a sustainable finance advisory firm, will guide fund selection and implementation, ensuring projects are high-quality and scalable.

“This new Adaptation Finance Window for Africa reinforces Denmark’s commitment to unlocking scalable climate solutions through strategic partnerships,” said Jesper Hilsted Andersen, Chief Counsellor for Development Finance at the Danish Ministry of Foreign Affairs. “It demonstrates how Nordic cooperation can drive innovative finance for global impact.”

Jens Nielsen, CEO of the World Climate Foundation, added, “By combining IMCA’s blended finance model and Magnitude’s expertise, we are committed to driving investments to build more resilient ecosystems across Africa.”

Jessica Brown, Senior Director of Adaptation and Resilience at ClimateWorks Foundation, noted, “This innovative partnership shows how philanthropy can work with the public and private sectors to scale climate action and create a resilient future.”

The Adaptation Finance Window for Africa represents a replicable model for mobilizing capital at scale, targeting both infrastructure and community-level climate resilience solutions. As private investors increasingly seek ESG-aligned opportunities, initiatives like IMCA’s new window could play a pivotal role in closing the continent’s adaptation finance gap while fostering sustainable development.