(Ecofin Agency) - On November 24, World Bank announced it would mobilize 16.1 billion USD by 2020 to help Africa fight climate change.

The Bretton Woods institution plans to provide $5.7 billion via International Development Association, its fund which is dedicated to supporting poor countries. The remaining part of the financing is to be raised by development institutions, the country and private partners.

World Banks’s climate business plan which is to be presented at the COP 21 conference on climate change in Paris starting on November 30 should serve to finance the promotion of smart agricultural practices, vulnerable environments and forests conservation, reducing coast erosion and developing green energies.

“Sub-Saharan Africa is highly vulnerable to climate shocks and our plan identifies concrete steps that African government to ensure that their countries will not lose hard-won gains in economic growth,” said World Bank’s President Jim Yong Kim.

“Though Africa is the least greenhouse gases polluter, African countries are the one to suffer most from the impact of climate change,” said Makhtar Diop, World Bank’s vice-president for Africa.

According to the World Bank’s studies, an increase of 1.5 to 2 degrees Celsius by 2030 to 2040 would result in a decrease of 40% to 80% of Africa’s arable lands. Also, a one meter rise in sea level would cause the loss of 18,000 km2 of lands in West Africa.

Africa contributes to only 2% of global greenhouse gases emissions.