AfDB at the WEF 2011-The Africa Green Fund
Climate change is a prominent issue at 2011 session of the World Economic Forum for Africa . Due to Africa’s vulnerability to the impact of climate change, it is certainly one of the continent’s priorities.
Although Africa produces very little greenhouse gas emissions, it still needs to employ mitigation and adaptive measures, which require significant financial resources. It was recently suggested that for the continent to engage on a sustainable development path, annual commitments in the range of US$ 22 to 31 billion up to 2015 would be required.
The African continent needs access to a dedicated fund to fulfil its needs. This is why a number of African leaders advocate the establishment of a Green Fund for Africa.
Such a fund, which would be hosted by the African Development Bank, would allow better management of adaptation and mitigation projects by African countries, and better matching of project to the continent’s development needs. Also, it would foster development of low-carbon measures, and contribute to making Africa a committed partner in global adaptation to climate change.