AFRICA: AfDB rewarded for its climate investments

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AFRIQUE : la BAD récompensée pour ses investissements en faveur du climat©asharkyu/Shutterstock

The African Development Bank (AfDB) has recently been awarded the "Green Champion 2020" award. Through this award, the Green Cluster of SMEs-Côte d'Ivoire acknowledges the role of the AfDB in climate finance on the African continent.

The recent report on climate finance of the Multilateral Development Banks (MDBs) notes the significant increase in climate investments by the African Development Bank (AfDB). This AfDB climate finance represents 35% of total 2019 project approvals, worth USD 10.2 billion. This represents an increase of 0.3% over 2018, and 26% over 2016.

The AfDB’s efforts in favor of sustainable development were again highlighted at the first edition of the “Green Champion”, a recognition awarded by the Green Cluster of SMEs-Côte d’Ivoire. The structure that brings together small and medium enterprises in Côte d’Ivoire rewards the pan-African bank as “the best technical and financial partner committed to promoting the green economy and support to SMEs for a transition to a low-carbon economy”.

The “Green Champion 2020” award was presented on July 30, 2020, during the Green Awards, an initiative launched in 2019 under the sponsorship of the Ministry of Environment and Sustainable Development of Côte d’Ivoire. According to the AfDB, Green Awards represents one of the pillars of the “Green Days” held virtually in Abidjan from July 28 to 30, 2020.

“We are very honored to receive this Green Award. Enabling eco-innovative SMEs to take into account the risks and opportunities related to climate change is a key step towards achieving a green economy in the context of post-Covid-19 recovery. This is why the African Development Bank is leading the way in building the technical capacity of SMEs and deploying a range of climate finance mechanisms to meet their needs for competitiveness and inclusive growth,” said Arona Soumaré, AfDB Regional Manager for Climate Change.

Jean Marie Takouleu


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