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The African Development Bank (AfDB) has affirmed its commitment to help African countries implement climate smart projects that will boost their economies and help them achieve their climate goals..
Dr. Anthony Nyong, Director of the African Development Bank for Climate Change and Green Growth, said in Accra on Wednesday: "This climate fund will help African countries implement climate-smart projects to realize their contributions determined at national level (NDC). "
"Between 2016 and 2017, we were able to spend at least $ 8.3 billion on climate change," he added.
Investment deliberations
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Dr. Nyong spoke at a roundtable with representatives of the Ghanaian government, investors, development partners and civil society organizations to discuss ways to tackle climate change and promote climate change. sustainable development in the country.
& # 39; Climate change
Dr. Nyong said the AfDB is committed to helping African countries implement green projects that would contribute to their nationally determined contributions (NDCs).
He said African countries were growing rapidly but faced the challenge of mobilizing the necessary resources to ensure continued growth leading to low-carbon resilient development.
He therefore urged African countries not to consider climate change as a disaster, as a result of many stories about the negative impact of climate change in every community on the continent, but rather to attract attention on exploring the investment opportunities offered by climate change.
"We have the choice and we can choose to develop the way our predecessors have grown or we can choose to do it differently, because we have abundant solar, hydroelectric and terrestrial resources that must be exploited to ensure that we develop in a sustainable way. ," he said.
Potential for climate investment
According to him, the implementation of commitments made by African countries under their NDCs required about $ 3 trillion by 2030, saying that "it is the size of a market and investment opportunities. that we have on the African continent.
"And I think it's important that we present it this way because all NDCs in Africa lend themselves to private sector investment and we think that 70 to 85% of the investment needed to implement the NDCs will come from the private sector.
"However, we need public resources to create a favorable environment for attracting resources from this private sector," he said.
Prioritize the role of women
Expressing the bank's belief that the NDCs could not be achieved without the participation of local actors, he congratulated Ghana for its efforts to involve women and other groups in the implementation of its actions for the climate.
Inspired by such ambitions, he said that Ghana was the first country in which the bank had set up a multi-million dollar fund as part of its affirmative funding for women in Africa, to "empower women to participate fully in development ".
"How can we think of developing a climate-smart agriculture when the workforce is made up of at least 60 to 70% of women and they are completely excluded?", A he asked.
He pointed out that the bank has created a $ 300 million fund to ensure that women have priority in the development of the continent.
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