From 22 to 26 May, African delegations and international partners of the AfDB are attending annual meetings in Sharm el-Sheikh, Egypt, where the Red Sea and Gulf of Aqaba meet.
Akinwumi Adesina, the institution’s president, kicked off the proceedings with the words “money matters, money matters, money matters”. In doing so, he emphasised the scale of the continent’s investment needs, estimated at $2.8trn by 2030.
Financing gap
The multilateral financing institution’s primary concern is the impact of climate change on the African continent. This theme is the focus of the event, which is dedicated to searching for “private sector financing for climate and green growth in Africa”.
- Advertisement -
Each year, the continent loses an average of 15% of its GDP per capita due to climate change; by 2100, 7% of the continent’s GDP will be lost as a result of global warming. Without innovative solutions, the
There’s more to this story
Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
cancel anytime
Already a a subscriber
Sign In