Established in 2024, the Risk Sharing Backstop Facility is Africa’s first climate-aligned co‑guarantee and counter‑guarantee vehicle, created to expand risk‑bearing capacity for early‑stage, climate‑aligned infrastructure projects. Based in Mauritius and capitalised with USD 13 million from FSD Africa Investments, RSBF shares up to 80% of risk with InfraCredit, enhancing capital efficiency and enabling larger, more catalytic guarantees. RSBF supports projects in their riskiest phase—construction and ramp-up—ensuring they reach refinancing viability for long-term local-currency bonds. The Facility has already supported multiple DRE and infrastructure developers through shared-risk structures that crowd in private capital. Designed for rapid scaling to USD 50 million, RSBF is a replicable continental model, offering a blueprint for climate risk-sharing platforms that leverage guarantees to mobilise institutional investment