Climate change costs Tunisia $5bln loss, damage – AfDB

The climate change issues have costed Tunisia loss and damage of about $5 billion, according to the African Development Bank’s (AfDB) annual report on Mobilising Private Sector Financing for Climate and Green Growth in Africa.

The report showed estimated financing needs for climate action between 2020 and 2030 are about $4.24 billion, while the cost of mitigating the effects of climate change is estimated at $4.14 billion.

It is worth mentioning that the African Development Bank believes that new regulatory frameworks and government incentives will be key to channeling private finance towards green growth.