April 12, 2024
AfDB To Provide $25 Billion For Africa’s Climate Finance By 2050
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AfDB To Provide $25 Billion For Africa’s Climate Finance By 2050

The African Development Bank (AfDB) has said it will commit $25 billion to Africa’s Climate Fund. The Banks’ Chief Executive Officer, Dr. Akinwunmi Adesina said this today at the ongoing African Climate Summit in Kenya.

According to him, the Bank is committed to contributing $25 billion to the continent in funding climate finance, to accelerate the transition to cleaner energy sources. 

During his speech at the Summit, he said that although Africa needs to make use of its vast renewable energy potential, the continent must also make use of its vast natural gas resources to close its wide energy access gaps.

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He said that at the national level, countries  must accelerate actions on climate adaptation and that is why the African Development Bank has committed to providing $25 billion to provide climate finance by 2025.
He added that AFDB has also launched the African Adoption Act Commission programme together with the Global Centre on Adaptation, the largest climate adaptation programme in the world. Africa must develop with what it has, not what it does not have.

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