Ivory Coast and the International Monetary Fund (IMF) unveiled a $500 million green finance fund on Wednesday, designed to support climate resilience and sustainable growth across the West African nation. The announcement was made during the COP29 summit in Azerbaijan, where global leaders gathered to discuss urgent climate initiatives.
The newly established fund, introduced by Ivory Coast’s Vice President Tiemoko Meyliet Kone, will draw from multiple sources, including the Ivorian government, the UN’s Green Climate Fund, development banks, and potentially private investors. The IMF, acting as a key partner, emphasized that this fund aims to enhance the nation’s infrastructure to better withstand climate impacts while also fostering green job opportunities and low-carbon industries.
“Our government, in collaboration with the IMF, is taking a significant step towards ensuring climate resilience,” said Kone at the summit. He further outlined plans for a climate resilience facility, a carbon market office, and an upcoming climate change bill, underscoring Ivory Coast’s commitment to green policies. 
Vice President Kone also called on wealthier nations, which contribute disproportionately to global greenhouse gas emissions, to increase their support for African countries. “Africa, while contributing a fraction to global emissions, bears a heavy burden from climate impacts,” he noted, stressing the need for accelerated funding, access to climate technology, and energy transition support.
Ivory Coast’s climate initiatives reflect its evolving economy. Traditionally reliant on agriculture, the country is now expanding into sectors such as oil, gas, and raw materials following recent discoveries, while still aiming for a sustainable path forward.
Can initiatives like this bring meaningful change to climate-vulnerable African nations, or will global emissions continue to outpace their resilience efforts?
