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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.
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“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.
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