German State Secretary for Economic Cooperation and Development, Jochen Flasbarth has stated that Germany has donated €40 million to the African Development Bank Group’s Climate Action Window initiative to help vulnerable African states adapt to the climate.
At the 27th session of the UN Climate Change Conference (COP27) in Sharm El Sheikh, Egypt, Flasbarth made the announcement during a ministerial panel for climate-vulnerable nations and supporters of adaptation funds.
The discussion titled, “Putting good quality adaptation finance in the spotlight at COP27”, was organized by the High Ambition Coalition.
The African Development Fund – the AfDB’s concessional loan window for low-income African states, is the organization behind the Climate Action Window. It is raising up to $13 billion for the 37 fragile, low-income states that have been most severely impacted by climate change.
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Flasbarth praised the African Development Bank Group for what he called its unwavering dedication to assist Africa to lessen the effects of and adapt to climate change.
He said that Germany’s contribution was a part of its attempts to balance parity in spending between climate mitigation and adaptation.
In his words, “All our countries have challenges to get the right balance between adaption and mitigation, but we want to do that. We want to look at the quality of adaptation finance, and we must look at the accessibility to climate finance, specifically for developing countries’ nationally determined contributions.”
Dr Akinwumi Adesina, president of the African Development Bank Group, praised Germany for supporting the Bank Group and believing in Africa, assuring that the funds would be put to good use.
Story was adapted from AFDB.
