African Development Bank announces US$1 billion climate financing for Youth

African Development Bank President Akinwumi Adesina has announced a new $1 billion facility to accelerate climate financing for Africa’s youth businesses. The additional financing will boost YouthAdapt, a joint initiative between the Bank and the Global Centre on Adaptation. It invites young entrepreneurs and micro, small, and medium enterprises in Africa to submit innovative solutions

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Rich nations paid less than 5 percent of the $53.3 billion East Africa needs to confront the climate crisis

Despite being largely responsible for the worsening climate crisis in East Africa, rich nations paid Ethiopia, Kenya, Somalia and South Sudan just $2.4 billion in climate-related development finance in 2021, in stark contrast to the $53.3 billion East Africa says it needs annually to meet its 2030 climate goals. Oxfam’s “Unfair Share” report published today,

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