The President of the African Development Bank, Dr. Akinwumi Adesina, declared that the continent needs $277 billion annually to tackle climate change.
This was disclosed by Adesina at the Islamic Development Bank’s 50th-anniversary event in Riyadh, Saudi Arabia on Monday.
Adesina stressed that Africa currently gets only $30 billion yearly for this purpose.
Adesina announced that the African Development Bank has set a target to raise $25 billion for climate adaptation by 2025, to bridge this gap,
He said “Africa will need $277 billion per year to address climate change, yet it receives only $30 billion annually.
“AfDB has set a target to raise $25 billion for climate adaptation by 2025,”
The bank stated that the world requires $4 trillion in annual financing to achieve the Sustainable Development Goals.
According to the bank, $4 trillion of annual funding is needed worldwide, to achieve the Sustainable Development Goals.
