Africa-Press – Namibia. THE African Development Bank launched its climate change and green growth framework at the COP26 climate conference in Glasgow, Scotland, seeking, among other things, to raise US$25 billion for climate financing.
If raised, Namibia stands to benefit, especially considering the Development Bank of Namibia’s newly launched climate change funding initiative. The framework launched by the African Development Bank (AfDB) is considered the first of its kind by any multilateral development bank, and is set to strengthen the bank’s ambition and vision to address climate change and promote green growth, building on over a decade of targeted efforts and lessons learnt and is grounded in “African realities”, said Al Hamndou Dorsouma, a climate manager at the bank.
“The strategic framework will enable the bank to strengthen our existing momentum on climate change action and also building on the ambitious goals that the bank has already established, including the goal of mobilising US$25 billion…the goal of allocating at least 40% of our annual investment as climate finance,” Dorsouma said.
Kevin Kariuki, the vice president for power, energy, climate and green growth at AfDB, said the institution stood ready to ensure that the continent was equipped to deal with the growing threat posed by global warming.
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