A caricature of the situation in climate finance, particularly regarding Africa, is a classic vicious circle: Climate finance is not flowing because of the lack of bankable investment plans; the lack of investment plans is due to a lack of faith that climate finance will flow.
Like any caricature, this one misses many details but captures a salient point: Climate finance, particularly for adaptation to low- and middle-income countries (LMICs) in Africa, is not flowing at anywhere close to what is needed, despite multiple declarations of intent and a plethora of planning exercises.
