Climate action: Africa needs $2.8 trillion

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Africa needs $2.8 trillion to implement its Nationally Determined Contributions on climate action, the Addis Ababa-based United Nations Economic Commission for Africa (UNECA) has said. .

In the “Addis Ababa Declaration” which sanctioned the 10th African Regional Forum for Sustainable Development (April 23-25), the UNECA noted that African countries face serious difficulties in accessing climate finance .

The Forum expressed concern “that African countries face serious difficulties in accessing climate finance and high costs of capital to mobilize private sector investments, despite the existence of multiple funds intended to finance climate-related projects in emerging and developing countries, in a context where Africa needs 2.8 trillion dollars to implement its nationally determined contributions on climate action and 1 An additional $600 billion to achieve the Sustainable Development Goals by 2030.

This 10th session of the Forum, it will be recalled, brought together online and in person in Addis Ababa ministers and senior African officials responsible for the environment and sustainable development, finance, planning, economic development and social, energy, agriculture and food security, regional planning, justice and public administration, education, statistics, the digital economy, science and technology, parliamentarians and experts representing governments and intergovernmental organizations, the private sector, academia and civil society.

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