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Tuesday 20th March 2018

World Bank Head: Boost Africa Investment to Win Climate Fight


7Dnews London - AFP

Wed, 13 Mar 2019 16:27 GMT

Governments and business must help countries in Africa deal with the fallout of climate change, the Head of the World Bank said Wednesday March 13th as her organisation pledged billions for green investment in the continent.

Kristalina Georgieva said that it was vital that nations least responsible for global warming are assisted in adapting to the extreme weather and food insecurity in their countries.

"Africa contributes 4% of CO2 emissions globally but already more than 65% of the population there is impacted by climate change, by drought, by flooding, by storms," she told AFP.

In her speech on the eve of the One Planet Summit in Nairobi, she said green development in Africa was an economic open objective for companies keen to invest in renewable energy, farming technology, and conservation.

"Especially in Africa we would like to see action on adaptation feature prominently," she said, adding, "We are determined to demonstrate that climate action is also good for the economy and good for people."

The World Bank announced on Wednesday it was providing $22.5 billion for sustainable development programmes in Africa between 2021-2025.

The UN estimates that by mid-century the continent will be home to more than 2.2 billion people.

This soaring population will most probably put further pressure on regions already liable to drought and could overburden the creaking infrastructure of many of the continent's urban hubs.