Dubai, United Arab Emirates, Nov. 30, 2023 (GLOBE NEWSWIRE) — What: Adaptation Finance Summit for Africa
When: Friday 1st December at 15:30 – 16:30
Where: Meeting Room 6 in the Blue Zone
Hosts Keynote address
William Samoei Ruto, President of Kenya and Chair of CAHOSCC
Macky Sall, President of Senegal
Moussa Faki Mahamat, African Union Commission Chairperson
Bill Gates, Co-Chair, Bill and Melinda Gates Foundation
Mark Rutte, Prime Minister of the Kingdom of the Netherlands
Samia Suluhu Hassan, President of the United Republic of Tanzania
Lord David Cameron, Secretary of State for Foreign, Commonwealth and Development Affairs
Anne Beathe Tvinnereim, Minister of International Development, Norway
Chrysoula Zacharopoulou, Minister of State for Development, Francophonie and International Partnerships, France
Akinwumi Adesina, President, African Development Bank
Patrick Verkooijen, CEO, Global Center on Adaptation
Climate change is an existential threat to Africa but determined action can build a more resilient and prosperous future for the continent. Yet promised climate finance, which is necessary to adapt to growing climate impacts, is falling far short of what is needed. In a recent report from the Global Center on Adaptation Accelerating Adaptation Finance – Africa and Global Perspectives it is estimated that African countries face an annual financing gap of US$100 billion dollars per year for adaptation. If we don’t adapt now, this funding gap will only increase as climate impacts continue to accelerate.
During the Adaptation Finance Summit for Africa:
- African countries will outline how they intend to invest and scale up adaptation to supercharge the continent’s growth and create new jobs underpinned by the International Monetary Fund’s Resilience and Sustainability Trust and AAAP Climate Adaptation Country Compacts.
- New financial commitments for the US$25 billion Africa Adaptation Acceleration Program (AAAP), the world’s largest adaptation initiative led by the African Development Bank (AfDB), the African Union Commission, and the Global Center on Adaptation will be announced.
- New AAAP Climate Adaptation Country Compacts as national vehicles as part of the region’s strategic mobilization of adaptation resources from domestic and international public and private sources will be presented.
- The Adaptation Finance Ministerial for Africa at the 2024 African Development Bank Annual Meetings will be launched.
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