{"id":20483,"date":"2023-05-23T19:51:51","date_gmt":"2023-05-23T19:51:51","guid":{"rendered":"https:\/\/www.africa-press.net\/ethiopia\/?p=20483"},"modified":"2023-05-23T17:25:59","modified_gmt":"2023-05-23T17:25:59","slug":"afdb-president-adesina-calls-out-developed-nations-for-not-honoring-100-billion-usd-pledge-2","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ethiopia\/all-news\/afdb-president-adesina-calls-out-developed-nations-for-not-honoring-100-billion-usd-pledge-2","title":{"rendered":"AfDB President Adesina Calls Out Developed Nations for Not Honoring 100 Billion USD Pledge"},"content":{"rendered":"

Africa-Press – Ethiopia. <\/strong><\/span>African Development Bank Group President Akinwumi Adesina called out developed nations for not honoring the 100 billion USD-a-year climate finance pledge they made to developing countries.<\/p>\n

Briefing journalists a day before the kick off of the 2023 African Development Bank Annual Meeting under the theme \u201cMobilizing Private Sector Financing for Climate and Green Growth in Africa,\u201d in Sharm El Sheikh, Egypt the president said that lack of adequate financing for tackling climate change in Africa has become dire and is \u201cchoking\u201d the continent.<\/p>\n

A combination of droughts and floods is causing massive losses of people and infrastructure, leading to rising numbers of refugees in vast areas of East and Southern Africa, and in the Horn of Africa, he stated, and emphasized that climate change is causing havoc anywhere in Africa today.<\/p>\n

According to him, there is still much to do, as Africa\u2019s private sector climate financing will need to increase by 36 percent annually. The African Development Bank is spearheading climate adaptation efforts across the continent and has devoted 63 percent of its climate finance, the highest among all multilateral development banks.<\/p>\n

Furthermore, he pointed out that the Bank\u2019s new Climate Action Window will support millions of farmers, enabling them to access climate-resistant seeds. The institution has also launched the Desert to Power initiative to develop 10,000 megawatts of solar power to benefit nearly 250 million people across the Sahel.<\/p>\n

\u201cAfrica\u2019s measured natural capital alone is estimated to be worth 6.2 trillion USD,\u201d which, if well harnessed, can spur a more rapid economic growth and wealth generation, Adesina added.<\/p>\n

He spoke about the Bank\u2019s flagship Technologies for African Agricultural Transformation (TAAT) scheme that provides heat-tolerant seed varieties to increase yield in crops such as wheat.<\/p>\n

The President gave the example of Ethiopia which is now self-sufficient in wheat production and plans to export the surplus to neighboring countries.<\/p>\n

According to Bank estimates, Africa will need 2.7 trillion USD by 2030 to finance its climate change needs.<\/p>\n

Adesina said, \u201cIf Africa had that money, the Sahel would have electricity. If Africa had that money, we would recharge the Chad basin, which has provided livelihoods for millions of people in Chad, Nigeria, Niger and Cameroon. Everything will change in all those countries; we will green the Sahel. We will insure every single African country against catastrophic weather events.\u201d<\/p>\n

\u201cYour role as the media is very important to help carry the news \u2013 the news of efforts being made, challenges being faced, and the fierce urgency of now in getting much-needed climate finance to Africa,\u201d the Bank chief underlined.<\/p>\n

The Bank will launch its annual African Economic Outlook report on May 24, 2023.<\/p>\n

The Bank Group\u2019s Annual Meetings will allow the Bank\u2019s Board of Governors, African leaders and development partners to explore practical ways of \u201cmobilizing private sector financing for climate and green growth in Africa,\u201d in line with the theme of this year\u2019s meetings.<\/p>\n

For More News And Analysis About Ethiopia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ethiopia. African Development Bank Group President Akinwumi Adesina called out developed nations for not honoring the 100 billion USD-a-year climate finance pledge they made to developing countries. Briefing journalists a day before the kick off of the 2023 African Development Bank Annual Meeting under the theme \u201cMobilizing Private Sector Financing for Climate and […]<\/p>\n","protected":false},"author":84,"featured_media":20482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12,301],"tags":[233,277,235],"class_list":["post-20483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-to-homepage","tag-africa-press","tag-africa-press-ethiopia-2","tag-ethiopia"],"yoast_head":"\nAfDB President Adesina Calls Out Developed Nations for Not Honoring 100 Billion USD Pledge - Ethiopia<\/title>\n<meta name=\"description\" content=\"African Development Bank Group President Akinwumi Adesina called out developed nations for not honoring the 100 billion ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/afdb-president-adesina-calls-out-developed-nations-for-not-honoring-100-billion-usd-pledge-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB President Adesina Calls Out Developed Nations for Not Honoring 100 Billion USD Pledge\" \/>\n<meta property=\"og:description\" content=\"African Development Bank Group President Akinwumi Adesina called out developed nations for not honoring the 100 billion ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/afdb-president-adesina-calls-out-developed-nations-for-not-honoring-100-billion-usd-pledge-2\" \/>\n<meta property=\"og:site_name\" content=\"Ethiopia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-23T19:51:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ethiopia\/sites\/50\/2023\/05\/sm_1684846399.137614.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1300\" \/>\n\t<meta property=\"og:image:height\" content=\"731\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/afdb-president-adesina-calls-out-developed-nations-for-not-honoring-100-billion-usd-pledge-2#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/afdb-president-adesina-calls-out-developed-nations-for-not-honoring-100-billion-usd-pledge-2\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"AfDB President Adesina Calls Out Developed Nations for Not Honoring 100 Billion USD Pledge\",\"datePublished\":\"2023-05-23T19:51:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/afdb-president-adesina-calls-out-developed-nations-for-not-honoring-100-billion-usd-pledge-2\"},\"wordCount\":502,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/afdb-president-adesina-calls-out-developed-nations-for-not-honoring-100-billion-usd-pledge-2#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ethiopia\/sites\/50\/2023\/05\/sm_1684846399.137614.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ethiopia\",\"ethiopia\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/afdb-president-adesina-calls-out-developed-nations-for-not-honoring-100-billion-usd-pledge-2#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/afdb-president-adesina-calls-out-developed-nations-for-not-honoring-100-billion-usd-pledge-2\",\"url\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/afdb-president-adesina-calls-out-developed-nations-for-not-honoring-100-billion-usd-pledge-2\",\"name\":\"AfDB President Adesina Calls Out Developed Nations for Not Honoring 100 Billion USD Pledge - 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