AfDB’s new reports to help Africa prepare for COP28

A country-by-country economic study on the finance requirements for Africa’s green economy and response to climate change is now available, published by the African Development Bank (AfDB) Group, published top help nations prepare for fruitful discourse at the upcoming COP28.

The report’s objective is to provide policymakers in Africa with recommendations for their deliberations at the 28th Conference on Climate Change (COP 28). The global event, according to a release from the bank, will take place from November 30 to December 12 in Dubai, United Arab Emirates.

The latest Country Focus Reports (CFRs) is titled: “Mobilising private sector finance for climate and green growth in Africa” and largely promotes policy discussion on macroeconomic performance and outlook, offering insights on how to mobilise private sector and natural capital funding to support the continent’s policies for a more resilient climate and sustainable growth.

Prof. Kevin Urama, Chief Economist and Vice President of the African Development Bank (AfDB) echoed this in a comment in which he noted that the the studies will stimulate sensible, workable, and implementable policies to increase private sector finance for Africa’s journey towards a greener future.

The papers offer each African nation with objective, unbiased analysis and suggestions as nations get ready for COP28. It will be an invaluable asset during the global discussion on climate finance and green transitions, for evidence-based negotiations.

According to the vice president, one of the most urgent existential dangers to Africa’s inclusive growth and sustainable development has been identified as climate change. Urama claims that this year’s national reports look into ways to use natural resources and private sector resources to close the climate finance gap, noting that doing so will facilitate the shift to inclusive, robust, and sustainable green growth.