President of the African Development Bank (AfDB), Akinwumi Adesina, has reiterated the need for effective financing and adaptation of the Africa Adaptation Acceleration Programme (AAAP) and other responses to Africa’s climate challenges.
Akinwumi made this call at the ongoing 2022 United Nations Climate Change Conference (COP27) in Egypt.
The conference, attended by world leaders, seeks to deliver action on the array of issues critical to tackling the climate emergency in Africa – from reducing greenhouse gas emissions, building resilience, and adapting to the impacts of climate change, to delivering on financial commitments to climate action in developing countries.
Addressing world leaders at COP27, Adesina stressed that commitments need to be translated into financing Africa’s efforts in tackling the worsening impact of climate change.
‘Africa is under siege; Africa cannot keep quiet. We are seeking a partnership’, he said.
‘World leaders need to hear our voices. Megawatts of words must translate into megawatts of financing for Africa’.
The impact of climate shocks is visible across the African continent. From the severe drought across the Horn of Africa to the devastating floods in West Africa.
The Africa Adaptation Acceleration Programme (AAAP), a joint initiative of the AfDB and the Global Centre on Adaptation (GCA), saw additional financial commitments by governments of several European countries at the conference.
The United Kingdom pledged £200 million (about $230 million) and is to triple its overall climate adaptation funding from £500 million to £1.5 billion by 2025.
The Netherlands will also provide AAAP with $110 million.
Germany pledged to increase its climate contribution to $6 billion a year by 2025. Nearly half the funding will be for adaptation, including in Africa.
Adesina announced that the AfDB would provide $12.5 billion and called on Africa’s partners to assist with the remainder of $12.5 billion.
Under the AAAP project, the AfDB and GCA hope to mobilise $25 billion to support interventions in food security, resilient infrastructures, youth entrepreneurship and job creation and innovative climate adaptation finance.
Photo source: Paul Kagame
