The African Development Bank pledges US$ 25 billion to climate finance for 2020-2025, doubling its commitments

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The African Development Bank (www.AfDB.org) will double its climate finance commitments for the period 2020-2025, the Bank’s President announced today at the One Planet Summit taking place in Nairobi. Akinwumi A. Adesina said that the Bank would commit at least US$25 billion towards climate finance.

the Bank launched the African Financial Alliance for Climate Change (AFAC) to link all stock exchanges, pension and sovereign wealth funds, central Banks and other financial institutions of Africa to mobilize and incentivize the shift of their portfolios towards low carbon and climate resilient investments….

An excerpt from Africa News