AfDB President, Adesina, says Africa choking, short-changed in climate finance, asks media to speak out


Lack of adequate financing for tackling climate change in Africa has become dire and is “choking” the continent, according to the African Development Bank Group (AfDB) President Akinwumi Adesina.

According to Bank estimates, Africa will need US$2.7 trillion by 2030 to finance its climate change needs.

Adesina pointed out that climate change was causing havoc anywhere in Africa today.

He said this when addressing scores of journalists from Africa and around the world at the just ended 2023 Annual Meetings in the Egyptian this week.

Adesina called out developed nations for not honouring the US$100 billion-a-year climate finance pledge they made to developing countries.

Read more: Zambia to benefit from African Development Bank programme targeting women in agric

“Africa is being short-changed in climate finance. Africa is choking. Your role as the media is very important to help carry the news – the news of efforts being made, challenges being faced, and the fierce urgency of now in getting much-needed climate finance to Africa,” he said.

Adesina said in vast areas of East and Southern Africa, and in the Horn of Africa, a combination of droughts and floods was causing massive losses of people and infrastructure, leading to rising numbers of refugees.

“There is still much to do, as Africa’s private sector climate financing will need to increase by 36 percent annually,” he said.

WARNINGAll rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.

Zambia drawn in group B with Malawi, Seychelles, Comoros for COSAFA cup finals

Previous article

Standards agency warns traders, producers of prosecution for sell of unapproved products

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Economy