AfDB kicks off creation of four green banks in Africa
African Development Bank President Akinwumi Adesina makes his remarks during the second day of the Africa Climate Summit held at the Kenyatta International Conference Center (KICC) in Nairobi, Kenya on September 5, 2023. PHOTO | FRANCIS NDERITU | NMG
The African Development Bank (AfDB) has started creating four green banks in Africa to mobilise up to $1.5 billion by 2030 towards green financing.
The move, through the African Green Bank Initiative, is due to a lack of climate finance made available at each successive Conference of the Parties (COP) meeting on climate crisis held by the UN.
