Region: Sub-Saharan Africa
Keywords: Climate Smart
The African Development Bank (AfDB) has shown its commitment to help the continent cope with climate change. In 2009, the Bank Group developed its Strategy of Climate Risk Management and Adaptation (CRMA).
This strategy calls for increased support for capacity building of African countries to tackle climate change risks. It also ensures that all investments financed by the Bank are “climate-proof", meaning that they are designed, installed, implemented and managed to reduce to a minimal level the adverse effects of climate change, with the most cost-effective ratio as possible.
These strategies are spelt out in a comprehensive action plan, which includes investments of almost USD 8 billion by 2015.
The plan’s purpose is to reduce the continent's vulnerability to climate change and sustain the change to economies producing less greenhouse gas (GHG). The plan banks on AfDB resources but also on the contribution of its partners, multilateral and bilateral institutions, and the private sector.
Updated: October 25, 2021