Green Growth Initiative

21-Jun-2019

World Circular Economy Forum 2019: Africa wants to go green

On 3-5 June, 2019, the third annual World Circular Economy Forum (WCEF) 2019 in Helsinki, Finland, organised by the Finnish innovation fund Sitra, brought together over 2,200 of the world’s top business leaders, policymakers, researchers and innovators from more than 90 countries to work towards implementing a circular economy. [row] [column md="7"] This year’s forum included a dedicated session on Africa to discuss the goal of scaling up the circular economy in the continent. Almost 70 African representatives from different parts of the continent attended the...
16-May-2019

Climate Finance Bimonthly Newsletter - Issue N°27 - August-October 2014

A SET OF BOLD AND AMBITIOUS COMMITMENTS to climate finance were made during the UN Climate Summit on September 23rd, which gathered around 120 heads of state. Pledges of around US$ 2.3 billion were made to the Green Climate Fund; over 150 supporters endorsed the New York Declaration on Forests, including countries who committed to halving deforestation by 2020 and ending it by 2030; and the Global Investment Coalition on Climate Change announced that it would double investments in climate change to US$ 84 billion by 2015 as well as increase current climate change investment 10-fold between...
20-May-2018

Green Growth: The Future for Africa (Video report) - AM 2014

Annual Meetings Website
08-Aug-2017

Climate Finance Bimonthly Newsletter - Issue N°40 - April-June 2017

GATHERED under the theme, “Transforming Agriculture for Wealth Creation in Africa,” the 2017 African Development Bank Annual Meetings in May brought together thousands of representatives from government, business, civil society, think tanks, academia and the media – from Africa and beyond – to discuss one of the Bank’s High 5 priority areas and its performance in delivering results to “Feed Africa.” In order to meet this goal, delegates discussed a wide range of issues, including creative energy solutions. One such example of this is the Ouarzazate solar energy project in Morocco, which won...
24-Oct-2016

AfDB Group to co-host the 5th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference in Seoul

An African Development Bank (AfDB) Group delegation led by President, Akinwumi Adesina, will attend the 5th KOAFEC Ministerial Conference in Seoul, South Korea from October 24-27, 2016. The Bank is co-hosting the conference whose theme is: “Transforming Africa’s Agriculture through Industrialization and Inclusive Finance”, with the Korea Ministry of Strategy and Finance (MOSF), and the Export-Import Bank of Korea (EXIM). The theme emphasizes the business value of agriculture to Africa’s socio-economic transformation. The KOAFEC Ministerial Conference, which has...
15-Feb-2016

From Fragility to Resilience - Managing Natural Resources in Fragile States in Africa - Summary Report

This report was made possible through the effort and dedication of a multitude of individuals within the African Development Bank (the Bank), the Environmental Law Institute, and several state governments in fragile situations, development partners, civil society organizations, and private sector institutions. The findings of this report were based on desk research that was enriched through interviews of more than 130 people representing Bank staff from a broad range of departments and units, as well as external development partners, implementing partners, state governments in fragile...
16-Dec-2015

Operationalizing green growth in Mozambique: AfDB report highlights recommendations for action

The African Development Bank has launched the report, “Transition towards Green Growth in Mozambique: Policy review and recommendations for action,” which summarizes the development process of the Green Economy Action Plan (GEAP) prepared to operationalize the ambitious goals of the country’s Green Economy Roadmap – a plan that outlines the country’s path to become an inclusive middle income country by 2030 through sustainable infrastructure, efficient and sustainable use of natural resources, and the strengthening of resilience and adaptive capacity to socio-economic shocks and climate...
10-Jul-2015

Climate Finance Bimonthly Newsletter - Issue N°31 - May-June 2015

At its governing body meetings mid-May, the Climate Investment Funds (CIF) endorsed 9 African nations to serve as pilot countries for critical aspects of climate-smart development, with six pilot countries for climate resilience and three for sustainable forests. In addition, governments unanimously endorsed Ghana’s ambitious investment plan to transform and promote its renewable energy sector (see Focus on renewable energy). As a result, the AfDB-CIF portfolio now includes 34 pilot programs in 27 African countries.
28-May-2015

Climate Finance Bimonthly Newsletter - Issue N°30 - March-April 2015

08-May-2015

AfDB’s new fund paves the way for climate finance readiness in Africa: Africa Climate Change Fund Annual Report

Launched in April 2014 with a EUR 4.725 million contribution from Germany for an initial three-year period, the African Development Bank-sponsored Africa Climate Change Fund (ACCF) is working to address underlying challenges currently preventing many of the region’s countries from accessing the climate finance they require for engaging in climate smart development. According to the ACCF Annual Report 2014, released on Friday, May 8, the goal of the Fund is to support regional member countries in their transition to climate resilient and low carbon development through...
11-Mar-2015

Climate Finance Bimonthly Newsletter - Issue N°29 - January-February 2015

ACCORDING TO Africa Energy Outlook, by 2040, almost half of Africa's growth in electricity generation will come from renewable energy resources. Responsibly and efficiently harvesting the continent's renewables to make this a reality is however, costly. Climate finance is therefore key to unlocking the continent's potential in this arena. AS A SIGN OF ITS COMMITMENT to energy generation from renewables in both the mid- and long-term, AfDB is an implementing agency of the Clean Technology Fund (CTF) and the Scaling Up Renewable Energy in Low Income Countries Program (SREP) ‒ funding windows...
22-Jan-2015

Climate Finance Bimonthly Newsletter - Issue N°28 - November-December 2014

THIS YEAR will be important for energy and climate change in Africa, and for the African Development Bank. At the 20th UN Conference of the Parties on Climate Change (COP20), which concluded on 14 December 2014, many new climate finance pledges were confirmed – US$ 50 million more for the Adaptation Fund, US$ 800 million for the Climate Investments Funds US$ 10 billion for the Green Climate Fund (GCF). Yet, we all know that they are not enough – and far from the goal of mobilizing jointly USD 100 billion per year by 2020 to address global climate challenges, especially in developing countries.
14-Nov-2014

African Development Bank to contribute to food security in 11 countries

The African Development Bank (AfDB) and the Alliance for a Green Revolution in Africa (AGRA) Kenya have signed on November 14, 2014, in Nairobi, a grant agreement to support the growth and formalization of 54 African seed companies in eleven countries. The Fund for African Private Sector Assistance (FAPA) managed by the Bank has provided US $1 million to fund a technical assistance project in the form of Business Development Services for the 54 seed companies. This technical assistance project will help the seed companies increase their production of quality seeds for rural farmers ultimately...
30-Oct-2014

AfDB strongly committed to preserving ecosystems and wildlife in Africa

The African Development Bank (AfDB) participated to the Twelfth Meeting of the Conference of the Parties (COP12) of the United Nations Convention on Biological Diversity (CBD) that took place from October 6-17, 2014 in Pyeongchang, Republic of Korea. During the last Global Environmental Facility (GEF) assembly meeting in Cancun Mexico last May, the CBD Secretariat convened a meeting with the multilateral development banks (MDBs), including the AfDB, to discuss the role of regional development banks in regional cooperation on biodiversity and ecosystem services and explore possibilities for...
30-Sep-2014

AfDB launches Green Growth Framework: “Entry points for action for transition to Green Growth in Africa”

The African Development Bank (AfDB) has released the first-ever Green Growth Framework that will function as a foundational reference document for its future work on green growth. The framework, called Entry points for action for transition to Green Growth in Africa, outlines the concept of green growth in the African context and builds a shared understanding of entry points for engagement for AfDB staff with the Bank’s regional member countries. Following the approval, Alex Rugamba, Director of the AfDB’s Energy, Environment and Climate Change Department, elaborated on the purpose of the...
11-Jul-2014

Climate Finance Bimonthly Newsletter - Issue N°26 - May-July 2014

AFRICA IS CHANGING. Today, the continent is on its way to becoming a centre of hope for the coming decades. To support this transformation, the AfDB seeks to promote inclusive growth and a transition to green growth. Thus, in the context of discussions held during the AfDB Annual Meetings on "The Africa we want", green growth was at the heart of the debate. Every expert present agreed on the need to sustainably manage renewable and non-renewable natural resources; doing so will enable African countries to benefit more from their great potential, while preserving their natural capital.
03-Jul-2014

AfDB pushes its Green Bonds: New projects, principles and products

Green growth is a corporate priority of the Bank that it achieves through the financing of eligible climate change mitigation and adaptation projects. AfDB Green Bonds – rated Aaa/AAA/AAA – help the Bank reach that goal. Proceeds raised through the sale of AfDB Green Bonds are allocated to a sub-portfolio within the Treasury’s liquidity portfolio until they are disbursed to eligible green projects. To date, outstanding AfDB Green Bonds (including green-themed uridashi bonds sold to Japanese investors) amount to US$ 993 million against a total eligible project...
05-Jun-2014

Madagascar President launches national dialogue on green growth

In line with state policy and with support from the African Development Bank (AfDB), the Government of Madagascar launched a countrywide dialogue on green growth on June 3. This dialogue will involve taking stock of challenges and opportunities presented by green growth in Madagascar. Discussions are also meant to define a roadmap for the large island nation’s move to sustainable development that benefits all citizens, while preserving its natural capital. Under the auspices of the President of the Republic, Hery Rajaonarimampianina, the national dialogue got underway...
02-Jun-2014

Supporting Africa’s Transition to Green Growth - Snapshot of the AfDB’s Activities

21-May-2014

Call for renewed efforts to support Green Growth in Africa

Given the urgency and seriousness of climate change, there is need to advance efforts to mobilize financing and mitigate the impact of climate change on the African continent, distinguished panelists said on Tuesday, May 20 in Kigali at the ongoing Annual Meetings of the African Development Bank. And although Africa accounts for less than 4% of global greenhouse gases (GHGs) emissions, it is the continent that suffers the most from the effects of climate change given its high climate sensitivity and relatively low adaptive capacity. The session held under theme “Green Growth...