Adesina addresses climate financing at AfDB’s 2023 annual meetings

By Norhan Adel On May 24, 2023

AfDB president at media lunch at the AfDB annual meetings — African Development Bank president Akinwumi Adesina speaks at a media lunch during the AfDB's Annual Meetings 2023 in Sharm El-Sheikh on Monday, May 22, 2023

Akinwumi Adesina, President of the African Development Bank Group (AfDB), addressed on Wednesday the issue of poor climate financing for Africa.

“Climate financing resources are only flowing to Africa in trickles,” Adesina stated, referring to Africa receiving only three percent of global climate finance.

Additionally, AfDB’s president underlined the need for doing more “to leverage the private sector into climate finance and green growth.”

Currently, only 14 percent of climate finance Africa receives comes from the private sector, as Adesina mentioned.

Adesina’s statements came during the AfDB’s 2023 annual meeting, which is currently held in Sharm El Sheikh and will extend until May 26.

RECAP

With just a fraction of the 3% of climate financing Africa receives coming from the private sector, there is still "much to do to leverage the private sector for #climateaction and #greengrowth," @AfDB_Group President @akin_adesina tells an #AfDBAM2023 audience.

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— African Development Bank Group (@AfDB_Group) May 24, 2023