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The AfDB President has restated the commitment of the bank to the Desert-to-Power Initiative.
The Bank plans to increase its climate financing to combat climate change in the continent.
The President of the African Development Bank Group, Dr Akinwumi Adesina, has restated the bank’s commitment to the Desert-to-Power Initiative. The initiative would see 10GW of solar power in Africa’s Sahel region, potentially electrifying 250 million people.
Adesina made his statements during the bank’s 2021 Annual Meeting. The President noted that the continent needs support to adapt to climate change. “As Africa builds back from the effects of the COVID-19 pandemic, it should do so with greater priority to climate resilience and green ” recovery. The imperative to do so is very clear,” Adesina added.
Adesina noted that the bank is taking bold actions to build climate resilience for African countries. Hence, the bank increased the share of total financing devoted to climate from nine per cent in 2016 to 35 per cent in 2019. We are expected to reach 40 per cent by the end of 2021.