African Development Bank to triple Annual Climate Financing to nearly $5 billion by 2020

AfDB President Akinwumi Adesina announced on Friday, October 9 that the Bank would nearly triple its annual climate financing to reach $5 billion a year by 2020. AfDB’s climate spending will increase to 40% of its total new investments by 2020. “Climate change is both an urgent threat and a unique opportunity,” Adesina said. “The Bank is significantly stepping up its support for African countries, not only to meet that threat but also to seize the opportunity to drive low-carbon, climate-resilient growth.”


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