The African Development Bank Group launched its framework on climate change and green growth at the COP26 climate conference in Glasgow, Scotland. This framework is the first of its kind proposed by a multilateral development bank.
The framework reinforces the Bank’s ambition and vision to tackle climate change and promote green growth, building on more than a decade of focused efforts and lessons learned and is grounded in ‘realities’. Africaines â, Al Hamndou Dorsouma, responsible and responsible for the climate. and the Green Growth Division, noted during his presentation which took place as part of the âAfrica Dayâ celebrations at the Africa Pavilion on Tuesday.
âThe strategic framework will allow the Bank to build on our current momentum on climate change action and also build on the ambitious goals that the Bank has already set for itself, including the goal of mobilizing $ 25 billion. dollarsâ¦ the goal of allocating at least 40% of our investment as climate finance, âDorsouma said.
Kevin Kariuki, vice president of energy, energy, climate and green growth at the African Development Bank, said the institution stands ready to ensure that the continent is equipped to cope to the growing threat posed by global warming.
The framework will allow the Bank to prioritize interventions, inform and guide the alignment of future Bank operations with the ambitious objectives of the Paris Agreement. It consists of a strategic policy, a long-term strategy covering 2021-2030 and a five-year action plan 2021-2025.