WILLAGRI
The African Development Bank (ADB) is launching the African Green Bank, an initiative supported by the African Green Finance Facility Fund (AG3F).
The aim is to support efforts against climate change by facilitating green financing across the entire continent. The action will be based on local financial institutions, and the ADB hopes that its support will stimulate private investment. The project already includes $10 million for operational deployment and $90 million for initial green financing.
This initiative represents a first lever of resilient transition, even though the continent’s needs for clean energy or smart agriculture are much greater. As part of the Nationally Determined Contributions (NDCs), the needs are estimated at $2.8 trillion by 2030 for African countries.
Source : VivAfrik