The UK was to grant £200m to the AfDB Group’s Climate Action Window, a new mechanism to channel climate finance
The United Kingdom has announced a significant increase in its financial support to the poorest African countries, which are bearing the full brunt of the effects of climate change.
Alongside African leaders attending COP27 in the Egyptian city of Sharm el-Sheikh, British Foreign Secretary James Cleverly confirmed that the UK will provide £200 million to the Climate Action Window of the African Development Bank Group, a new mechanism to channel climate finance to help vulnerable countries adapt to the consequences of climate change.
Several countries on the continent are experiencing extreme weather conditions, from severe drought in Somalia to flooding in South Sudan.
“Climate change is having a devastating impact on some of the poorest countries in sub-Saharan Africa, yet historically these have received only a fraction of the funds intended to fight climate change,” said the Foreign Secretary James Cleverly. Before adding: “Thanks to this new mechanism of the African Development Bank, vital resources will be channeled much more quickly to the countries most affected by the effects of climate change.
The UK Foreign Secretary continued: “Access to climate finance for emerging economies was a focal point at COP26 in Glasgow and I am pleased to see tangible progress being made, supported today by funding UK of 200 million pounds. »
Climate change has a disproportionate impact on the 37 poorest and least creditworthy countries in Africa. Nine of the ten countries most vulnerable to climate change are in Africa.
The Glasgow Climate Pact included a commitment from donors to double funding for adaptation measures between 2019 and 2025.
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Prime Minister Rishi Sunak announced last weekend that the UK will exceed this target and triple adaptation funding to £1.5 billion by 2025 , compared to 500 million in 2019. This financial envelope granted to the African Development Bank will be 100% allocated to climate adaptation.
The Prime Minister also confirmed on Monday 7 November that the UK is delivering on its pledge to dedicate £11.6 billion in international climate finance between 2021/22 and 2025/26.
The President of the African Development Bank Group, Akinwumi Adesina, welcomed this additional financing from the United Kingdom: “I commend the British government for this major contribution to the capitalization of the Climate Action Window of the African Development Fund, in as we seek to mobilize more financing to support vulnerable low-income African countries, which are the most affected by climate change. This bold initiative and the support of the UK will strengthen our collective efforts to increase the climate resilience of African countries. With the increasing frequency of droughts, floods and cyclones devastating economies, the UK’s support for climate change adaptation is timely, it is necessary and inspiring to bridge the climate adaptation financing gap in Africa. »
“I came to COP27 in Egypt with the challenges of climate adaptation for Africa at the top of my mind. UK support gives hope. I encourage others to take a cue from the leadership the UK is showing on climate adaptation,” said Mr Adesina.