Economy, Environment
AKINWUMI Adesina, president of the African Development Bank, has outlined what Africa will do if it raises with $2.7 trillion by 2030 to finance its climate change needs.
“If Africa had that money, the Sahel would have electricity. If Africa had that money, we would recharge the Chad basin, which has provided livelihoods for millions of people in Chad, Nigeria, Niger and Cameroon. Everything will change in all those countries; we will green the Sahel. We will insure every single African country against catastrophic weather events,” Adesina told the media at the African Development Bank Annual Meetings from Monday, May 22 – Friday, May 26.
The president said” “Africa’s measured natural capital alone is estimated to be worth $6.2 trillion,” which, if well harnessed, can spur rapid economic growth and wealth generation.
According to him, the Bank’s flagship Technologies for African Agricultural Transformation (TAAT) scheme that provides heat-tolerant seed varieties to increase yield in crops such as wheat has yielded fruits in countries the bank assisted. Citing the example of Ethiopia, Adesina said the country is now self-sufficient in wheat production and plans to export the surplus to neighbouring countries.
Accompanied by Vice Presidents Professor Kevin Urama, Kevin Kariuki, Beth Dunford, Solomon Quaynor, Marie-Laure Akin-Olugbade and Simon Mizrahi, Adesina resorted to them to amplify more facts for issues raised during the conference.
According to Adesina, AFDB will launch its annual African Economic Outlook report, a flagship publication on the state of African economies on Wednesday, May 24.
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Tags: African Economic Outlook report Akinwumi Adesina Beth Dunford Kevin Kariuki Professor Kevin Urama Simon Mizrahi Solomon Quaynor
