Faith Nyasuguta
Africa will benefit from new UK-backed projects worth £49 million ($61.5 million) geared towards mitigating the effects of Climate Change.
The funding is set to help in creation of jobs, grow economies and improve the lives of women, farmers and at-risk communities.
This includes £34 million ($42.7) for new projects across 15 African countries to help women, at-risk communities, and more than 400,000 farmers build resilience against the effects of climate change, under the established CLARE, CIWA and WISER programmes.
Early warning systems, including text alerts, radio and social networks, will help hard-to-reach communities take action before extreme climate events occur, and these projects will also improve water security for more than 1.5 million people.
Some seven new climate finance projects will also be launched at the Africa Climate Summit currently happening in Nairobi, Kenya.
Investments worth £15 million ($18.8 million) from UK-backed FSD Africa Investments will mobilize capital from private sources, allowing small-scale businesses to access finance, create innovative products and deliver inclusive tech solutions such as turning desert into land for farming.
Together, these projects will improve access to basic services including renewable energy and healthcare for over 500,000 people, generate 3,400 jobs, and provide cheaper and reliable power to households.
“More action has to be taken, as those least responsible for climate change are increasingly bearing the brunt of its effects. The UK is working closely with African partners to fight climate change, boost resilience and help those whose lives are most impacted,” UK Minister for Development and Africa Andrew Mitchell said.
Whilst in Nairobi, the Minister will reaffirm the UK’s commitment to providing £11.6 billion ($14.5 billion) international climate finance over 5 years, and will call for rapid reform of the international financial system to unlock trillions of dollars to combat climate change.
UAE PLEDGES BILLIONS FOR GREEN DEVELOPMENT
On Tuesday, the UAE pledged $4.5 billion in clean energy investments in Africa at the landmark climate summit aimed to showcase the continent’s potential as a green powerhouse.
Kenyan President William Ruto has sought to use the Africa Climate Summit in Nairobi to shift the narrative on the region, presenting the clean energy transition as a unique opportunity for Africa — if it can attract financing to realize its potential.
On Tuesday, the conference saw its most significant pledge so far, with $4.5 billion announced by the United Arab Emirates, which will also host the COP28 summit in Dubai in November-December.
Sultan Al Jaber, who heads the UAE’s national oil company ADNOC and government-owned renewable energy company Masdar, said the investment would “jumpstart a pipeline of bankable clean energy projects in this very important continent”.
Jaber, who is also president of the COP28 climate summit, said a consortium including Masdar would help develop 15 gigawatts of clean power by 2030.
Africa’s renewable generation capacity was 56 GW in 2022, according to the International Renewable Energy Agency.
The three-day Nairobi summit, which began Monday, has attracted heads of state, government and industry, including leaders from Mozambique and Tanzania, as well as United Nations head Antonio Guterres, EU chief Ursula von der Leyen and US climate envoy John Kerry.
It is billed as bringing together African leaders to define a shared vision for green development on the diverse continent of 1.4 billion and set the tone for a flurry of international diplomacy leading up to the COP28 meeting.
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