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AfDB to hold key discussions on proposed Africa Green Fund

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The African Development Bank (AfDB) will be holding its side event on the proposed Africa Green Fund on 9 December 2010 in Cancun, Mexico.

The objective of the event is to provide a platform for key stakeholders at the international level to discuss the Africa Green Fund (AGF), an instrument designed to enable African countries gain better access to global resources for the purpose of tackling climate change challenges on the continent.

The event will include a presentation by Mr. Anthony Nyong, AfDB’s Compliance and Safeguards Manager,  and a moderated discussion session with a panel of key Pan-African leaders including Ethiopian Prime Minister and Chair of the Conference of African Heads of States on Climate Change, Meles Zenawi. Others are: AfDB President Donald Kaberuka, African Union Commission Chairperson, Jean Ping; South Africa’s Minister of National Planning, Trevor Manuel; United Nations Economic Commission for Africa (UNECA) Executive Secretary, Abdoulie Janneh; and Lindiwe Sibanda, CEO of FANRPAN and the Africa-wide Civil Society Climate Change Initiative for Policy Dialogue (ACCID). Several other African and non-African ministers and key decision makers have confirmed their participation in the meetings.

The AGF is designed to receive and manage resources allocated to Africa, from all sources including the fast-track financing and long-term pledges made under the Copenhagen Accord to finance projects and programs that contribute to climate resilience and low carbon development in Africa. Regional Member Countries and other approved entities will have direct and easy access to flexible instruments including grants, concessionary loans and risk mitigation instruments to support public and private sector investments in Africa.

The hosting and management of the AGF in Africa by the Bank will increase Africa’s access to the commitment under the Copenhagen Accord. This increased access will enhance the continent’s confidence to contribute to the climate change debate as part of the solution to a global climate change deal.

The AfDB is a significant and committed contributor to development in Africa and, in particular, was established for the purpose of contributing to the sustainable economic development and social progress of its African member states. The design and implementation of the AGF will benefit from the experience that the Bank has acquired in hosting and administering similar special funds that address the needs and specificities of African countries.

A high-level AfDB delegation is participating in the Sixteenth Conference of Parties (COP 16) to the United Nations Framework Convention on Climate Change (UNFCCC), taking place from November 29 to December 10, 2010. The Bank’s delegation is led by President Donald Kaberuka who is accompanied by Vice President Kamal El Kheshen and several other Bank staff. The AfDB is also supporting the participation of Ministerial- level delegations from the Bank’s Regional Member Countries (RMCs) including African Negotiators.

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