BREAKING NEWS: African Financiers Pledge $100bn For Green Initiatives

African financial institutions plan to raise more than $100 billion for green initiatives across the continent to fuel economic growth, according to a Bloomberg report..  .Read ..Full.. Article.. .

Financiers including the African Development Bank (AfDB), 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.

The measures are “designed to accelerate renewable powered industries, expand regional value chains, and establish Africa as a global hub for sustainable trade,” they said on Monday.

The financiers’ commitment will boost funding to a continent that attracts less than three per cent of global energy investments, even as it has 60% of the world’s solar potential and vast untapped wind, hydro, and geothermal resources.

Meanwhile, the 13th Conference on Climate Change and Development in Africa (CCDA-XIII) ended in Addis Ababa over the weekend with experts calling for a coherent, evidence-based, and investment-ready African climate, and..  Read . .More —