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The World Bank on Wednesday announced the upcoming launch of a new Climate Innovation Centre (CIC) in Ghana, to boost the Ghanaian green economy. The CIC will support climate entrepreneurs in the country with financing and advisory services.

The CIC will be financed through a $17 million grant recently approved by the World Bank Group. It is part of the World Bank’s Climate Technology Programme that has helped to create a number of climate innovation centres around the world. The centre also has support from the governments of Denmark and the Netherlands.

The Ghanaian CIC project will support more than 100 local clean technology companies to develop innovative solutions to tackle climate change. The centre will help more than 300,000 Ghanaians increase resilience to the negative effects of climate change over the next 10 years.

The centre will also help Ghana in reducing 660,000 tonnes of carbon dioxide, one of the greenhouse gases, and contribute to the production of more than 260 million kWh of clean energy.

The centre will be established at the Ashesi University College in Berekuso, and managed by a consortium led by the Ashesi University College, Ernst & Young, SNV Netherlands Development Organization, and the United Nations University Institute for Natural Resources in Africa. It is expected to open in the second quarter of 2016.

The grant agreement was signed by Henry Kerali, World Bank Country Director for Ghana, and Patrick Awuah, Founder and President of Ashesi University College.

Henry Kerali said, “The Ghana CIC solidifies the role of the private sector in helping Ghana mitigate and adapt to climate change. By enabling entrepreneurs and green innovators to test and scale their business models, homegrown clean technology solutions can help the country build climate resilience while also creating jobs and fostering economic growth.”

Other Climate Innovation Centres have been established in Kenya, Ethiopia, the Caribbean, South Africa, Morocco, and Vietnam.