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AfDB demands more funds to face climate crisis in Africa

Banco-Africano-de-Desarrollo-AfDB

AfDB demands more funds to face climate crisis in Africa

Cairo, Jun 24 (Prensa Latina) The African Development Bank (AfDB) on Friday estimated that the region needs up to 1.6 trillion dollars in climate funding until 2030.
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We require significant investments to build climate resilience and adaptation capacity on the continent, Kevin Urama, Vice President for Economic Governance and Knowledge Management at the AfDB, told Al-Ahram newspaper.

We estimate that adaptation to climate change will cost the continent at least 50 billion dollars a year by 2050, he warned.

Urama considered that in view of this situation, the region will need 1.6 trillion dollars in the current decade to face the scourge.

He also called for a clearer definition, as well as a better coordination and harmonization of the climate finance requirements.

Africa’s historical share of global emissions is below three percent, he said.

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