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African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Africa, Latin America and the Caribbean join forces to drive circularity

Dialogue was held among entrepreneurs, academics, and champions on the need to scale up the transition towards circular economies

The African Circular Economy Alliance (ACEA) (www.ACEAafrica.org), and the Circular Economy Coalition of Latin America and the Caribbean (CEC LAC) (https://bit.ly/3hHaxPw) have organized the first regional dialogue to strengthen cooperation around their common objectives. The event, titled “Regional deep-dive: Africa, Latin America & the Caribbean joining forces for circularity,” took…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Global Center on Adaptation and African Development Bank call for applications for the African Youth Adaptation Solutions Challenge

Young entrepreneurs between the ages of 18 and 35 are invited to respond to the call for the expression of interest and submit their business plan through the official submission portal

The Global Center on Adaptation (GCA) and the African Development Bank (AfDB.org) have launched a call for applications for the first edition of the African Youth Adaptation Solutions (YouthAdapt) Challenge. The call encourages young entrepreneurs, innovators from micro, small and medium-sized enterprises (MSMEs) and other youth-led and youth-owned enterprises in Africa,…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Put Adaptation Atop the Climate Change Agenda, Global Leaders Urge Ahead of COP26. “We are in the eye of the storm.”

The leaders underlined the imperative for all countries to step up climate adaptation initiatives while mitigating carbon emissions in the global effort to combat climate change

Global leaders stressed the critical urgency of climate adaptation when they came together in Rotterdam, the Netherlands, on Monday at a meeting of the Friends of the Global Center on Adaptation (GCA). The agenda was the acceleration of adaptation solutions ahead of November’s United Nations global climate summit, COP26. The…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

The Sustainable Energy Fund for Africa reports record number of transactions in 2020, secures $90 million in new funding

SEFA, managed by the African Development Bank, focuses on green baseload, green mini-grid, and energy efficiency investments

The Sustainable Energy Fund for Africa (SEFA) approved seven high-impact projects worth $54 million in 2020, its best year in spite of challenging Covid-19 conditions, according to its recently released 2020 Annual Report. SEFA (https://bit.ly/3hxDIEN), managed by the African Development Bank, focuses on green baseload, green mini-grid, and energy efficiency…

African Development Bank Group (AfDB)

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    • First Hydromet Gap Report calls for scaled-up investments in weather forecasts and early warning systems
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Source: African Development Bank Group (AfDB) |

First Hydromet Gap Report calls for scaled-up investments in weather forecasts and early warning systems

Hydromet create benefits worth at least ten times their costs and are vital to build resilience to extreme weather

An estimated 23,000 lives per year could be saved and up to $2 billion in economic losses averted by improving weather forecasts, early warning systems, and climate information in low- and middle-income countries, according to a new report (https://bit.ly/3xAkDay) issued by the Alliance for Hydromet Development (https://bit.ly/3k7041u). Known as hydromet,…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank scoping study identifies opportunities for private sector participation in Africa’s climate agenda

The study was produced in partnership with the Fund for African Private Sector Assistance and launched during a virtual African Development Bank webinar held on 1 July 2021

A recently published African Development Bank (www.AfDB.org) scoping study on implementing NDCs in Africa recommends that development financial institutions and other investors focus on high-impact, high-growth potential start-ups that can drive climate-related innovation. The study, NDC implementation in Africa through green investments by private sector - A Scoping Study, was…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

The Green Climate Fund approves $170.9m in co-financing for African Development Bank’s Leveraging Energy Access Finance Framework (LEAF) program

LEAF aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE) projects in six program countries

The Board of the Green Climate Fund (GCF) (www.GreenClimate.Fund) has approved $170.9 million in financing for the African Development Bank’s (www.AfDB.org) Leveraging Energy Access Finance Framework (LEAF) program. LEAF aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE)  projects in six program countries: Ghana, Guinea, Ethiopia, Kenya, Nigeria…

African Development Bank Group (AfDB)

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    • Multilateral Development Banks’ (MDBs) climate finance rose to $66 billion in 2020, joint report shows (1)
    • Multilateral Development Banks’ (MDBs) climate finance rose to $66 billion in 2020, joint report shows (2)
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Source: African Development Bank Group (AfDB) |

Multilateral Development Banks’ (MDBs) climate finance rose to $66 billion in 2020, joint report shows

Multilateral development banks enhance cooperation on reporting climate finance

MDBs publish 2020 Joint Report on Multilateral Development Banks’ Climate Finance; Eight MDBs committed $66 billion for climate finance in 2020, up from $61.6 billion; Of the total, 58 per cent was committed in low- and middle-income countries. Climate finance committed by major multilateral development banks (MDBs) rose to a…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank trains experts from development finance institutions on climate finance action strategy and management

Over 200 participants were able to gain a deeper understanding of the roles of national development finance institutions in climate risk management

The African Development Bank (www.AfDB.org) and the Association of African Development Finance Institutions (AADFI) (https://bit.ly/3ppC4re) jointly hosted a 3-day virtual workshop (https://bit.ly/3gfbzjZ) to train development finance experts in Africa on climate finance action strategy and management. The training aimed to equip participants, particularly those from the financial and private sectors,…

African Development Bank Group (AfDB)

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    • Act now to safeguard biodiversity, nature’s asset class in Africa - Dasgupta Review
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Source: African Development Bank Group (AfDB) |

Act now to safeguard biodiversity, nature’s asset class in Africa - Dasgupta Review

The report, The Economics of Biodiversity: The Dasgupta Review, assesses the economic benefits of biodiversity globally

A U.K. Treasury -commissioned independent review on the economics of biodiversity has called for a change in the way the world thinks and acts with regard to nature. Africa, alongside the rest of the world, must heed the call to understand that our economies are embedded within nature and are…