The United Kingdom has announced a significant increase in its financial support to the poorest African countries that bear the brunt of climate change.
Speaking alongside African leaders at COP27 in the Egyptian city of Sharm El Sheikh, British Foreign Secretary James Cleverly confirmed the UK will provide £200 million to the African Development Bank Group’s Climate Action Window, a new mechanism set up to channel climate finance to help vulnerable countries adapt to the impacts of climate change.
A number of countries on the continent have experienced extreme weather conditions from severe drought in Somalia to floods in South Sudan.
Foreign Secretary James Cleverly said: “Climate change is having a devastating impact on some of the poorest countries in Sub-Saharan Africa but historically they have received a tiny proportion of climate finance,” said Cleverly adding, “This new mechanism from the African Development Bank will see vital funds delivered to those most affected by the impacts of climate change, much more quickly.”
The UK Foreign Secretary noted, “Access to climate finance for emerging economies was a central focus at COP26 in Glasgow and I’m pleased to see tangible progress being made, supported today by £200 million of UK funding.”
Climate change has a disproportionate impact on the 37 poorest and least creditworthy countries in Africa. Nine out of ten most vulnerable countries to climate change are in Africa.
The Glasgow Climate Pact included a commitment from donors to double adaptation finance between 2019 and 2025.
Prime Minister Rishi Sunak announced at the weekend that the UK will surpass that target and triple adaptation funding from £500 million in 2019 to £1.5 billion by 2025. This funding package provided to the African Development Bank will be 100% earmarked for adaptation.
The Prime Minister also confirmed yesterday that the UK is delivering on the target of spending £11.6 bn on International Climate Finance (ICF) between 2021/22 and 2025/26.
The President of the African Development Bank Group, Akinwumi Adesina welcomed the additional funding from the United Kingdom and said,
“I applaud the UK government for this major contribution towards the capitalization of the Climate Action Window of the African Development Fund, as it seeks to raise more financing to support vulnerable low-income African countries that are most affected by climate change. This bold move and support of the UK will strengthen our collective efforts to build climate resilience for African countries. With increasing frequencies of droughts, floods and cyclones that are devastating economies, the UK support for climate adaptation is timely, needed, and inspiring in closing the climate adaptation financing gap for Africa.”
“I came to COP 27 in Egypt with challenges of climate adaptation for Africa topmost on my mind. The support of the UK has given hope. I encourage others to follow this leadership on climate adaptation shown by the UK”, said Adesina.
About the African Development Bank Group
The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 44 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states.
For more information: www.afdb.org
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
This launch is a significant milestone that highlights Rwanda's ongoing digital transformation. With...
Egypt signs deals to import up to 290 LNG cargoes over 30 months, starting in July Trafigura,...
Government unveils plan to boost cybersecurity after attacks on public platforms Measures inc...
• Chinese brand Omoda & Jaecoo to partner with Algeria's IRIS to produce tourist vehicles• Project t...
Highlights: • Ghana lost $11.4 billion to gold smuggling from artisanal mining between 2019 and 2023, Swissaid reports. • Smugglers reroute...
Highlights: • World Bank urges Niger to boost irrigation as climate shocks threaten food security. • Just 2% of farmland is irrigated, yet it produces a...
(AfDB) - One side event at the African Development Bank Group’s 2025 Annual Meetings unpacked the use of Artificial Intelligence (AI) as a powerful tool...
Angola seeks diverse alliances to tap $60 billion in hydrocarbon project needs U.S. firms ExxonMobil and Chevron deepen involvement in oil...
Tucked away in northeastern Chad, deep in the heart of the Sahara Desert, the Ennedi Massif stands as an extraordinary natural and cultural marvel. This...
Kakum National Park is a protected area located in Ghana’s Central Region, near the city of Cape Coast. Established as a forest reserve in 1931 and...