The devastating effects of climate change in many African countries has been described as cause for concern, as the continent would need about 2.7 trillion dollars interventions by 2030 to adapt.
African Development Bank, AfDB, which took a swipe at Western countries’ empty vows on climate change financing, noted that many African countries, through no fault of theirs, would continue to be in terrible straits without urgent interventions.
President of the Bank, Akinwumi Adesina, at a media briefing to herald the 2023 yearly general meeting of the bank, in Sharm el-Sheikh, Egypt, stressed that Africa is in a dire situation and choking badly, hence it needs more investments from the public and private sectors.
He added that the continent, which accounts for just three percent of the global emission, feels the pinch more in losses of 7 to 15 billion dollars yearly due to climate change, with spiral effects that would swell losses to 50 billion dollars by 2040, at the current trend.
