Skip to main content

World Bank Group unveils US$16 billion Africa climate business plan


The World Bank Group today unveiled a new plan that calls for US$16 billion in funding to help African people and countries adapt to climate change and build up the continent's resilience to climate shocks.

Titled Accelerating Climate-Resilient and Low-Carbon Development, the Africa Climate Business Plan will be presented at COP21, the global climate talks in Paris, on November 30. It lays out measures to boost the resilience of the continent's assets - its people, land, water, and cities - as well as other moves including boosting renewable energy and strengthening early warning systems.

"Sub-Saharan Africa is highly vulnerable to climate shocks, and our research shows that could have far-ranging impact -- on everything from child stunting and malaria to food price increases and droughts," said World Bank Group President Jim Yong Kim. "This plan identifies concrete steps that African governments can take to ensure that their countries will not lose hard-won gains in economic growth and poverty reduction, and they can offer some protection from climate change."

Per current estimates, the plan says that the region requires $5-10 billion per year to adapt to global warming of 2°C.

The World Bank and the United Nations Environment Programme estimate that the cost of managing climate resilience will continue to rise to $20-50 billion by mid-century, and closer to $100 billion in the event of a 4°C warming.

Of the $16.1 billion that the ambitious plan proposes for fast-tracking climate adaptation, some $5.7 billion is expected from the International Development Association (IDA), the arm of the World Bank Group that supports the poorest countries. About $2.2 billion is expected from various climate finance instruments, $2.0 billion from others in the development community, $3.5 billion from the private sector, and $0.7 billion from domestic sources, with an additional $2.0 billion needed to deliver on the plan.

"The Africa Climate Business Plan spells out a clear path to invest in the continent's urgent climate needs and to fast-track the required climate finance to ensure millions of people are protected from sliding into extreme poverty," explains Makhtar Diop, World Bank Group Vice President for Africa. "While adapting to climate change and mobilizing the necessary resources remain an enormous challenge, the plan represents a critical opportunity to support a priority set of climate-resilient initiatives in Africa."

The plan will boost the region's ability to adapt to a changing climate while reducing greenhouse emissions, focusing on a number of concrete actions. It identifies a dozen priority areas for action that will enhance Africa's capacity to adapt to the adverse consequences of climate variation and change.

The first area for action aims to boost the resilience of the continent's assets. These comprise natural capital (landscapes, forests, agricultural land, inland water bodies, oceans); physical capital (cities, transport infrastructure, physical assets in coastal areas); and human and social capital (where efforts should include improving social protection for the people most vulnerable to climate shocks, and addressing climate-related drivers of migration).

The second area for action focuses on powering resilience, including opportunities for scaling up low-carbon energy sources. In addition to helping mitigate climate change, these activities offer considerable resilience benefits, as societies with inadequate access to energy are also more vulnerable to climate shocks.

And the third area for action will enable resilience by providing essential data, information and decision-making tools for climate-resilient development across sectors. This includes strengthening hydro-met systems at the regional and country levels, and building capacity to plan and design climate-resilient investments.

"The plan is a 'win-win' for all especially the people in Africa who have to adapt to climate change and work to mitigate its impacts," said Jamal Saghir, the World Bank's Senior Regional Adviser for Africa. "We look forward to working with African governments and development partners, including the private sector, to move this plan forward and deliver climate smart development."

The Africa Climate Business Plan reflects contributions and inputs from a wide variety of partners with whom the Bank is already collaborating on the ground, in a coordinated effort to increase Africa's resilience to climate variability and change. The plan aims to help raise awareness and accelerate resource mobilization for the region's critical climate-resilience and low-carbon initiatives.

The plan warns that unless decisive action is taken, climate variability and change could seriously jeopardize the region's hard-won development gains and its aspirations for further growth and poverty reduction. And it comes in the wake of Bank analysis which indicates climate change could push up to 43 million more Africans into poverty by 2030.

Credit: World Bank Group

Comments

Popular posts from this blog

PFM Act to guide local government authority borrowing

By: Fred Yaw Sarpong
The bill, Public Financial Management (PFM) Act 921 which has been passed into law by Parliament is to guide public institutions especially the local government authority borrowing. The law was pass on 3rdAugust, 2016
According to the law, local government authority, a public corporation or state-owned enterprise is liable for the debt and other obligations without recourse to Government, unless otherwise explicitly guaranteed by Government in accordance with this Act.
Madam Eva Esselba Mends, the Chief Economic Officer and Group Head of PFM at the Ministry of Finance told the Daily Express that the law involves a lot but it also give instruction to how state institutions can borrow especially with the  local government authority.
She mentioned that there is no specific law in place that gives direction as to what local authority can do when it comes to borrowing by the authority. Other public corporations sometimes borrow with huge amount for their operation but loca…

Tigo donates 540 tablet phones Death and Birth Registry

By: Sarpongs.blogspot.com 
Tigo Ghana has presented 540 tablets phones with internet connectivity to the Births and Deaths Registry (BDR) for the pilot phase of the automated birth registration programme.
This form parts of Tigo’s strategic focus to accelerate birth registration in Ghana through mobile technology. Tigo in partnership with UNICEF is providing this technology platform.
A statement from Tigo stated that the tablets will allow birth registration attendants from the Births and Deaths Registry to electronically capture details of all new births in 300 communities across Ghana.
The automated birth registration programme which was launched in May this year, is expected to make a significant contribution to an improved national average registration rate, an increase from 65 percent of all children under age one to at least 75 percent by the end of 2017.
According to Tigo, a successful pilot will also contribute to progress under Ghana’s National Civil Registration and Vital Statist…

Vodafone fined a record £4.6 million for IT blunder

A top-up error left pay-as-you-go customers out of pocket and complaints were mishandled
Vodafone has been fined a record £4.6 million by the telecoms watchdog forleaving thousands of customers out of pocket in a disastrous IT blunder.
Ofcom found that the operator mishandled complaints and failed to pay into the accounts of more than 10,000 pay-as-you-go customers when they topped up their credit.
The top-up error, which cost customers £150,000 over 17 months in 2014 and 2015, stemmed from the moving of 28.5 million accounts to a new billing system.Errors in billing data and price plans caused so much protest that it made Vodafone the most complained-about mobile network in Britain.The technical issues were resolved by April 2015 and all accounts are now on the new system, Vodafone said.
Lindsey Fussell, Ofcom’s consumer group director, said:“Vodafone’s failings were serious and unacceptable, and these fines send a clear warning to all telecoms companies.”
The company says that it has ref…