Africa needs $277bn annually to address Climate Change – AfDB President, Adesina

The President of the African Development Bank, Dr Akinwumi Adesina has said the continent needs $277 billion yearly to address Climate Change.

Adesina disclosed this in his keynote address on Monday as the Islamic Development Bank marks its 50th anniversary in Riyadh, Saudi Arabia.

According to him, 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.

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“AFDB has set a target to raise $25 billion for climate adaptation by 2025,” he said.

The Bank said the world needs $4 trillion annual financing to save Sustainable Development Goals.