The third edition of the One Planet Summit takes place on March 14, 2019, in Nairobi, Kenya which will focus on Africa and ways to accelerate and step-up climate action on renewable energy, protecting biodiversity, and boosting adaptation and resilience.
This brings together leaders from government and the private sector, entrepreneurs, donors, international organizations and other global stakeholders.
The World Bank Group will provide $22.5 billion for Africa for climate adaptation and mitigation for the five years from 2021-2025. This more than doubles our commitment to climate-related projects over the last five years. This support builds on the ongoing Africa Climate Business Plan, which has already delivered 176 projects for climate-resilient development in Africa Read the press release here.
Recognizing that a number of countries in Africa are among the most vulnerable to global climate shocks and stresses, and in line with these new climate financing commitments and future direction of the Africa Climate Business Plan, more than half of $22.5 bilion financing will be devoted to supporting adaptation and resilience in Africa. That would amount to about $12-$12.5 billion over the five years 2021-2025.
Original source: World Bank
Published on 13 March 2019
