Adesina: Africa has no excuse to remain poor

The President of the African Development Bank, Akinwumi Adesina, has highlighted the urgent need for action to address climate change and poverty in Africa. Speaking at a recent summit in Dubai, Adesina emphasized the impact of climate change on the continent, with Africa losing billions of dollars annually due to its effects. Adesina stressed that Africa contributes only a small percentage to global greenhouse gas emissions but bears the brunt of climate challenges disproportionately. To combat these issues, Adesina presented a comprehensive plan to support African countries in adapting to climate change and accessing essential resources. Adesina's call to action echoes the sentiment that Africa, with its vast natural resources and young population, has the potential to thrive economically. However, the continent must urgently address pressing issues such as climate change, poverty, and access to critical resources. Adesina emphasized the need for countries to work collectively to achieve net-zero emissions goals and drive sustainable development. One of the key initiatives outlined by Adesina is the African Adaptation Acceleration Program, a $25 billion initiative aimed at supporting African countries in adapting to climate change. This program, launched in partnership with the Global Center on Adaptation, represents the largest climate adaptation effort globally. Adesina underscored the importance of scaling up actions and ensuring that resources reach countries in need. Additionally, Adesina introduced the Climate Action Window, a funding mechanism within the African Development Fund dedicated to climate initiatives. The Climate Action Window, currently at $429 million, aims to expand its funding to $14 billion to provide crucial support to farmers, promote agricultural technologies, and rehabilitate degraded lands. Through these initiatives, Adesina aims to empower African communities to build resilience to climate change. Furthermore, the African Development Bank is spearheading the African Climate Risk Insurance Facility for Adaptation, a $1 billion facility designed to help countries insure themselves against extreme weather events. This initiative ensures that countries can access funds to recover from disasters and reinforces their resilience to climate risks. Adesina's holistic approach to addressing climate change and its impacts reflects his commitment to driving sustainable development on the continent. In addition to climate adaptation efforts, the African Development Bank is actively working to enhance access to clean energy in Africa. The Desert to Power program, a $20 billion initiative, aims to develop 10,000 megawatts of solar energy across 11 African countries. This endeavor is set to provide electricity to 250 million people and establish the largest solar zone globally. By focusing on energy access, Adesina seeks to promote economic growth and improve the quality of life for millions of Africans. Adesina's message at the summit resonated with the importance of collective action and collaboration to address the climate crisis. He emphasized the need for partnerships with investors, multinational institutions, and development finance institutions to unlock Africa's renewable energy potential, enhance transport systems, and provide clean cooking solutions. Adesina's vision includes establishing the Alliance for Green Infrastructure in Africa, a collaborative effort to drive sustainable development and address pressing environmental challenges. As Africa stands at a critical juncture, Adesina's leadership and advocacy for climate action and poverty alleviation underscore the continent's potential for growth and prosperity. By mobilizing resources, fostering partnerships, and driving sustainable initiatives, Adesina and the African Development Bank are paving the way for a more resilient and prosperous Africa.