African Development Bank Pledges $25 Billion for Climate Finance by 2050

The President of the African Development Bank, Akinwunmi Adeshina, announced on Tuesday that the institution will provide $25 billion for climate finance by 2050. During the second day of the momentous African Climate Summit, this announcement was made at the Kenyatta International Convention Centre in Nairobi, Kenya. The African Climate Summit is a first-of-its-kind initiative in Africa, with a central emphasis on green growth and climate finance, intended to foster a prosperous, carbon-free future for the continent. One of the primary goals of the summit is to establish Africa’s priorities for the 28th annual conference of members of the United […]



AfDB To Launch $1bn Climate Adaptation Initiative For African Youths

The African Development Bank (AfDB) and the Global Center on Adaptation will initiate a $1 billion climate adaptation initiative for African youth, according to AfDB president Akinwumi Adesina. Adesina made the announcement on Sunday at the African Climate Youth Assembly, which was held in Nairobi, Kenya, prior to the Africa Climate Summit. The initiative, dubbed “Youth Adapt,” will provide seed funding for ideas and enterprises led by young people, according to him. The AfDB president said the programme has in the past funded over 33 businesses of African adolescents across 19 countries, adding that some of the businesses have further[…]



AfDB Approves $115 Million Loan For Abia Development Projects

The African Development Bank Group (AfDB) has granted a $115 million loan for Abia State for road reconstruction, erosion prevention, and solid waste management. The initiative will generate long-term employment, particularly for the youth, according to a statement from the AfDB board of directors. Umuahia, the capital of Abia State, and Aba, the business center, are currently dealing with major infrastructure issues as a result of decades of underinvestment amid rapid urbanization, according to forecasts for 2022 of their respective populations of 553,000 and 814,000. “When completed, the 1.37 million residents of these two cities will benefit from decreased travel[…]