Africa lack resources to tackle climate change –AfDB

September 11, 2022

1.2 min readCategories: News

The President, African Development Bank Group, Dr Akinwumi Adesina, has said that Africa lacks the resources to tackle climate change as the continent receives only three per cent of global climate financing.


This was contained in a statement by the bank’s Abuja office.


It was also disclosed that the bank plans to provide$12.5bn to support the Africa Adaptation Acceleration Program.


The African Adaptation Acceleration Programme, which is supported by African Heads of State, was established to mobilize more resources for climate change, to advance the objectives of the African Adaptation Initiative.

Both the AfDB and the Global Centre on Adaptation are mobilising $25bn for this programme over five years, to accelerate and scale climate adaptation action across the continent.


Speaking during the recently concluded Africa Climate Adaptation Summit held in Rotterdam, Netherlands, Adesina was quoted in the statement as saying, “Africa does not have the resources to tackle climate change. The continent receives only three per cent of global climate financing. If this trend continues, Africa’s climate financing gap will reach $100bn to $127bn per year through 2030


“The current climate financing architecture is not meeting the needs of Africa. New estimates by the African Economic Outlook of the African Development Bank show that Africa will need between 1.3 and $1.6tn between 2020-2030, or $118bn to $ 145bn annually, to implement its commitments to the Paris Agreement and its nationally determined contributions

download the starnews app

About the Author: Starnews NG

Leave A Comment

Tornado kills 23 in Mississippi

FIFA Women’s World Cup trophy arrives in Nigeria

Ondo man beats nurse, doctor with cutlass over son’s death

Presidential Poll: INEC Plotting To Match Irev Information With Form EC8A – PDP Alleges

Opposition Planning To Truncate My Swearing-in, Tinubu Cries Out

Buhari never said he won’t hand over to Tinubu — Presidency

Kids burnt by grandma survived – Ondo police

CJN travelled for medicals, returned yesterday, never met Tinubu – Supreme Court

Angry Residents Protest Fulani Herdsmen’s Invasion In Ondo

Lawmakers propose bill to criminalise Gospel of Jesus in Israel

Recent Tweets