NEWS

The Green Mobility Financing Facility for Africa (GMFA), an African Development Bank-led initiative, is set to scale up its operations following a $13.46 million funding approval from the Global Environment Facility (GEF) on 18 June 2026. GMFA catalyses private investment in green mobility systems through blended finance and credit enhancement instruments, including concessional debt and senior debt, complemented by technical assistance. The newly approved package combines a $12.46 million concessional loan with a $1 million technical assistance grant to support the development of efficient, low-emission public transport systems and contribute to the reduction of greenhouse gas emissions across Africa.

Africa's urban population is expected to double by 2050, increasing demand for public transport and last-mile mobility solutions while intensifying challenges related to air pollution, congestion and climate change. Yet investment in electric mobility remains fragmented and largely confined to pilot initiatives, hindered by high upfront costs, perceived technology risks, limited access to long-term financing and insufficient market readiness.

The newly approved GEF funding will support the operationalisation of the facility and help unlock larger pools of public and private capital for sustainable transport investments. The facility will support a range of green mobility technologies, including electric buses, electric two- and three-wheelers, renewable-energy-powered charging infrastructure, battery swapping stations and electric vehicle manufacturing.

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