African Financiers Pledge $100 Billion for Green Initiatives
The financiers’ commitment will boost funding to a continent that attracts less than 3% of global energy investments, even as it has 60% of the world’s solar potential and vast untapped wind, hydro, and geothermal resources.
Photographer: Guillem Sartorio/BloombergAfrican financial institutions plan to raise more than $100 billion for green initiatives across the continent to fuel economic growth.
Financiers including the African Development Bank, African Export-Import Bank and Ecobank Transnational Inc. committed to mobilize sustainable finance, align regulatory frameworks, and unlock technical expertise at the Africa Climate Summit in Addis Ababa, Ethiopia, they said in a statement.