AfDB launches AAA programme to mobilise $25 bln to confront climate change

The African Development Bank Group (AfDB) has launched the African Adaptation Acceleration Programme (AAAP) to mobilise $25 billion in support of Africa’s adaptation to climate change, its president, Akinwumi Adesina, said on Tuesday.

Adesina’s remarks during the AfDB’s annual meeting 2023 that the establishment of the Alliance for Green Infrastructure (AGIA) in partnership with other institutions is meant to mobilise $10 billion in private investment for green infrastructure in Africa.

He also urged developed countries to commit to the $100 billion-a-year climate finance pledge they have made to developing countries. “Africa is underfunded by climate change,” he said.