Somali Prime Minister, Hamza Abdi Barre has travelled to Sharm El-Sheikh of Egypt to participate in the African Development Bank Summit.
The Summit under the theme of “Mobilizing Private Sector Financing for Climate and Green Growth in Africa” kicked off on Monday and will run for five days.
“The Prime Minister’s attendance at this crucial gathering of African leaders sends a strong signal of Somali Government’s resolve to mitigate the adverse effects of climate change while simultaneously fostering economic growth and development,” the Office of the Prime Minister said on Twitter Post.
The Bank Group’s Annual Meetings will allow the Bank’s Board of Governors, African leaders and development partners to explore practical ways of “mobilizing private sector financing for climate and green growth in Africa,” in line with the theme of this year’s meetings.
The African Development Bank is spearheading climate adaptation efforts across the continent and has devoted 63% of its climate finance, the highest among all multilateral development banks.
The Bank’s new Climate Action Window will support millions of farmers, enabling them to access climate-resistant seeds. The institution has also launched the Desert to Power initiative to develop 10,000 megawatts of solar power to benefit nearly 250 million people across the Sahel.
The Bank and the Global Center for Adaptation have launched the African Adaptation Acceleration Program (AAAP) to mobilize $25 billion to support Africa’s adaptation to climate change. It has also established Alliance for Green Infrastructure (AGIA) in partnership with other institutions, to mobilize $10 billion in private investment for green infrastructure in Africa.
