Towards a more inclusive and sustainable climate financing
18 May 2023 (3 PM Nairobi/8 PM Manila/2 PM Brussels)
Co-organised by: IBON Africa, Africa Forum and Network on Debt and Development AFRODAD, Alliance for Food Sovereignty in Africa, Climate and Sustainable Development Network
On May 22-26, 2023, the Africa Development Bank (AfDB) will hold its Annual Ministerial Meeting with the theme, “Mobilising private sector financing and green growth in Africa.” This follows developed countries’ failed promise of mobilising and providing additional USD 100 billion in climate financing, and in the context of fiscal constraints in most African countries.
Africa is the region most affected by climate change impacts. Drought and other extreme weather events threaten and displace people and their livelihoods. The region, also mired in rising debt, is in dire need of support and financing to enhance their climate adaptation. In this context, the AfDB promotes the central role of the private sector in climate and development financing, including Public Private Partnerships (PPPs), to compensate for ‘financing gaps’.
The webinar will unpack the AfDB’s PPP model, and look into its implications to climate financing. It will be held ahead of the AfDB’s meetings to help CSOs develop advocacy messages and come up with alternative policy proposals.