Akinwumi Adesina, President of the African Development Bank, has said that the continent needs as much as $277 billion yearly to be able to address Climate Change.
Adesina made this known in his keynote address on Monday during the 50th anniversary of the Islamic Development Bank in Riyadh, Saudi Arabia.
In his address, despite the $277 billion needed annually, the continent gets only $30 billion yearly. He added that the Bank has set a target to raise $25 billion for climate adaptation by 2025.
“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,” he said.
He maintained that the world needs $4 trillion annual financing to save Sustainable Development Goals.
story was adapted from Punch.
