AfDB to fund climate change in Africa with $25billion by 2025 – Adesina
By 2025, AfDB would commit $25billion in climate finance in Africa, as well as other bank’s initiatives.
The African Development Bank (AfDB) is committed to mobilizing the sum of $25 billion in climate finance in Africa by 2025, as well as a number of other initiatives by the bank that would address climate adaptation.
This disclosure was made by the President of African Development Bank (AfDB), Dr. Akinwumi Adesina at a Conference of Montreal fireside chat event, organized by the International Economic Forum of the Americas, themed “A Sustainable Recovery for People and Planet.”
During the chat event, Adesina was engaged in discussions with Inger Andersen, Under-Secretary-General of the United Nations and Executive Director of the UNEP and was moderated by the President of the International Development Research Centre (IDRC), Jean Lebel.
The discussion focused on three key areas as follows:
-The current state of affairs with respect to COVID-19 and climate change.
-Stimulus policies and recovery.
-The role of the private sector in terms of recovery.
“Climate change is an existential crisis and one that the planet must face together. The four largest economies account for 55% of emissions, the brunt of the impact will fall on African countries as well as delta and low-lying small economies around the world. Any recovery has to have a degree of solidarity with it.”
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