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Climate Finance Bimonthly Newsletter - Issue N°7 - June-July 2011
During the month of June, the African Development Bank (AfDB) hosted two major development forums with an eye to expanding support for green and resilient development in Africa: first, the 2011 AfDB Annual Meetings, which wrapped up in Portugal, Lisbon, followed by the 2011 Climate Investment Fund (CIF) Partnership Forum on 24-25 June in Cape Town, South Africa. Both were opportunities to advance the debate on climate change and financing in Africa, and champion the African nations that are taking concrete action to stimulate new growth paths. These include South Africa, whose USD1.3 billion project for concentrated solar and wind power was recently approved by the Bank for partial financing, and several African nations that came before the CIF for investment plan and project approvals. Most importantly, these forums also provided valuable lessons learned for future climate financing for Africa.