Africa To Receive New Financing For Climate Action.
African efforts to invest in clean energy and prepare for the devastating consequences of climate change have received a boost with six countries set to receive 1,1 billion US dollar (5,5 milliarder DKR) in new financing for climate action, the World Bank said on Thursday.
The new financing for climate action was given the green light at a recent Trustee meeting of the Climate Investment Funds (CIF) in Washington.
– The CIF support for Africa is coming at a critical time. Climate change has the potential to turn back the clock on hard won development gains across the continent, said World Bank Vice President for Sustainable Development Katherine Sierra.
Mozambique, Niger and Zambia will each receive up to 50-70 million dollar, while Moroc-co, South Africa and Egypt will benefit from very low-interest loans for 150 million, 500 million, and 300 million respectively.
“All share dramatic risks in potential loss of land, life and livelihoods as a result of climate change”, the World Bank said in a press release.
CIF is a scheme run jointly by the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, International Finance Corporation as well as the World Bank.
Kilde: www.worldbank.org
