Africa’s climate bet: Can a new $750m fund make infrastructure withstand a hotter future?
The Development Bank of Southern Africa joined the African Finance Corporation's $750 million Infrastructure Climate Resilient Fund to scale climate adaptation efforts across Africa. The fund aims to ensure infrastructure projects are built to withstand climate change effects.
A new push to finance climate-resilient infrastructure in Africa has gained momentum with the Development Bank of Southern Africa joining the African Finance Corporation's $750 million Infrastructure Climate Resilient Fund. The fund is designed to ensure infrastructure projects across Africa are built to withstand climate change effects. Africa loses between 2% and 5% of its GDP annually due to climate-related shocks, with adaptation needs estimated at up to $50 billion annually. The fund will focus on sectors critical to economic growth and climate resilience. It is structured to attract both public and private investment using a blended finance model. The fund's backers include the Green Climate Fund, European Investment Bank, and several African pension funds.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.