The World Bank says it will inject $22.5 billion over five years to help Africa tackle the dangers associated with climate change.
Kristalina Georgieva, the World Bank interim president disclosed this to BBC Africa TV’s Money Daily programme. She said Africa remains vulnerable to the effects of climate change through prolonged drought, floods and destructive storms.
Additionally, Ms. Georgieva disclosed that the World Bank had also stepped up its efforts to mobilize investments in renewable energy.
This development comes ahead of the One Planet Summit that opens in Nairobi, Kenya. The event is set to be co-hosted by Kenya’s President, Uhura Kenyatta and President Emmanuel Macron of France. The Summit is geared towards bringing governments, private sector and civil society groups together for the common goal of addressing environmental challenges.
Of note is the fact that Africa contributes only 4% to the global CO2 emissions but shoulders some of the most severe consequences of global warming.
