COP21: AfDB joins Inclusive Green Growth Partnership to accelerate financing of green growth projects

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The African Development Bank announced on Thursday, December 17 that it has joined the Inclusive Green Growth Partnership, a new collaboration between the Global Green Growth Institute (GGGI), multilateral development banks and United Nations agencies to address policy barriers and promote social inclusion at the country level to accelerate financing for green growth projects. The Partnership was launched during the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change in Paris (COP21).

Many African countries lack the critical financial and technical capacity to embark upon ambitious climate-friendly projects. GGGI partners with countries to help them build economies that grow strongly, are more efficient and sustainable in the use of natural resources, less carbon intensive, and more resilient to climate change. GGGI works with countries around the world, building their capacity and working collaboratively on green growth policies that can impact the lives of millions. The Partnership will therefore leverage GGGI’s technical experience to build capacity to develop green capital projects, support efforts to promote readiness for climate finance, and prepare green investment projects that attract private capital.

Speaking about the Partnership, AfDB Manager for Environment and Climate Change, Kurt Lonsway, stated, “Inclusive and green growth are part of the AfDB’s Ten Year Strategy and are central to the AfDB’s aims to deliver such growth sustainably over the long term. Through the Inclusive Green Growth Partnership, the AfDB will be better able to collaborate among international experts in identifying opportunities and investments which deliver upon these objectives through more equitable growth models that create employment and raise incomes in regional member countries.”

In addition to the GGGI and the AfDB, other members include: the Asian Development Bank, Inter-American Development Bank, United Nations Regional Economic and Social Commissions, United Nations Economic and Social Commission for Asia and the Pacific, United Nations Economic Commission for Africa, United Nations Economic Commission for Latin America and the Caribbean, and the United Nations Economic and Social Commission for Western Asia.

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