Africa Launches Green FundNigeria
Amidst persistent warnings that climate change will destroy Africa, the leaders of the world's second largest and second most populous continent have launched the 'Climate for Development in Africa Programme' and decided to set up an 'Africa Green Fund'.
The two significant steps to defend the continent came in run-up to the landmark UN climate change conference from November 29 to December 10 in Cancun, Mexico, where the African Green Fund is expected to get underway.
The Climate for Development in Africa (ClimDev-Africa) Programme has been launched by the African Development Bank (AFDB), the African Union Commission (AUC) and the United Nations Economic Commission for Africa (UNECA) at the Seventh African Development Forum (ADF VII) in Addis Ababa, Ethiopia.
Speaking for their governments at the ADF VII, several African ministers unanimously supported the African Development Bank's proposal for the establishment of a Green Fund.
"The Fund is designed to receive and manage resources allocated to Africa from all sources including the fast-track financing and long-term pledges made under the Copenhagen Accord to finance projects and programs that contribute to climate-resilience and low- carbon development in Africa," the AFDB stated.
Going by speeches of government ministers, among others, the African Development Bank would host and manage the Fund.
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