Wednesday, July 23, 2025
  • REPORT A STORY
  • PRIVACY
  • CONTACT US
BROAD NEWS — WITHIN NIGERIA
  • HOME
  • FEATURES
  • BROAD NEWS
    • National
    • Metro
    • Politics
    • Entertainment
    • Sports
    • Economy
    • Education
    • Business
    • Agriculture
    • Environment
    • Foreign
    • Health
    • Law
    • Lifestyle
    • Opinions
    • Religion
    • Security
    • Technology
    • World
  • NEWS PICKS
  • ENTERTAINMENT
  • GIST
  • MORE
    • VIDEOS
    • ARTICLES
No Result
View All Result
  • HOME
  • FEATURES
  • BROAD NEWS
    • National
    • Metro
    • Politics
    • Entertainment
    • Sports
    • Economy
    • Education
    • Business
    • Agriculture
    • Environment
    • Foreign
    • Health
    • Law
    • Lifestyle
    • Opinions
    • Religion
    • Security
    • Technology
    • World
  • NEWS PICKS
  • ENTERTAINMENT
  • GIST
  • MORE
    • VIDEOS
    • ARTICLES
No Result
View All Result
BROAD NEWS — WITHIN NIGERIA
No Result
View All Result
  • HOME
  • FEATURES
  • BROAD NEWS
  • NEWS PICKS
  • ENTERTAINMENT
  • GIST
  • MORE

TRENDING IN 7-DAYS

No Content Available
  JUST IN
Japan’s justice minister resigns after death penalty quip November 11, 2022
Quinquagenarian docked for alleged wilful damage, land grabbing November 11, 2022
Mitigating impact of emerging biosecurity threats November 11, 2022
2 public servants docked over alleged failure to produce suspect November 11, 2022
Company donates 40 WPS licenses for ABU’s smart classrooms November 11, 2022
Security men docked for alleged theft of generator in Lagos November 11, 2022
Ebonyi’s Gov. Umahi plans to produce 10,000 young multimillionaires using agriculture November 11, 2022
Blatter says Iran should be barred from Qatar World Cup November 11, 2022
FG, LASG promise joint action on Eko Bridge, others November 11, 2022
Quacks are taking over our profession in Ogun, Medical Doctors seek intervention November 11, 2022
PDP to lodge formal complaint to police over attacks on its campaign trails November 11, 2022
2023: South-South Committee promises massive votes for Tinubu November 11, 2022
Presidency commends Saudi Humanitarian support to Nigerian conjoined twins November 11, 2022
APC chairman optimistic of Tinubu’s victory in 2023 Elections November 11, 2022
2023 Elections: Former Information Minister tasks editors on agenda setting November 11, 2022
North-West is indebted to Tinubu, says APC contact committee November 11, 2022
Naira depreciates slightly against dollar, exchanges at 446.10 November 11, 2022
Minister mourns Nigeria Ports Consultative chairman, Folarin November 11, 2022
COP27: Activist calls on oil coys to clean up oil spills in Niger Delta November 11, 2022
Musk begins survey on changes in content quality on Twitter November 10, 2022
Next
Prev

MOST READ TODAY

No Content Available
No Content Available

AfDB to provide $12.5bn to support Africa adaptation programme

in National
Reading Time: 3 mins read
0
Damilare Aanuby Damilare Aanu
September 8, 2022

Dr Akinwumi Adesina, President of the African Development Bank (AfDB) Group says the bank will provide 12.5 billion dollars to support the Africa Adaptation Acceleration Programme (AAA-P).

The AfDB president disclosed this via his verified twitter handle @akin_adesina on Wednesday.

The AAA-P is Africa’s own programme, supported by African Heads of State, to mobilise more resources for climate change, to advance the objectives of the African Adaptation Initiative.

The AfDB and the Global Center on Adaptation (GCA) are mobilising 25 billion dollars for this programme to which the bank committed 12.5 billion dollars.

READ ALSO

2023: South-South Committee promises massive votes for Tinubu

We won’t allow any online platform to plunge Nigeria into crisis–FG

NDLEA arrests 900 suspects, seizes 10 tons of drugs in Kaduna

Agency trains Nigerian officials on e-govt in South Korea

“The Africa Adaptation Acceleration Program (AAA-P) is the largest effort globally for adaptation. But we need money.

“The African Development Bank Group put down 12.5 billion dollars out of 25 billion dollars so we are not begging.

“We are saying we didn’t (create) the problem. We have come to the conversation with commitment, meet us halfway,,” the AfDB president said.

Speaking during the recently concluded Africa Climate Adaptation Summit held in Rotterdam, Netherlands, Adesina said Africa does not contribute more than three per cent of global greenhouse gas emissions but suffered  disproportionately from its negative consequences.

“Africa does not have the resources to tackle climate change. The continent receives only three per cent of global climate financing.

“If this trend continues, Africa’s climate financing gap will reach 100 billion dollars to 127 billion dollars per year through 2030.

“The current climate financing architecture is not meeting the needs of Africa.

“New estimates by the African Economic Outlook of the African Development Bank shows that Africa will need between 1.3 and 1.6 trillion dollars between 2020 to 2030, or 118 billion dollars to 145 billion dollars annually, to implement its commitments to the Paris Agreement and its nationally determined contributions.”

According to the statement, the programme is an initiative of the AfDB and the GCA which aims to mobilise 25 billion dollars, over five years, to accelerate and scale climate adaptation action across the continent.

The AAA-P was endorsed at the Leaders’ Dialogue on the Africa COVID19-Climate Emergency in April 2021 which was the largest gathering ever of African Heads of State and Government solely focused on adaptation.

In Glasgow, the Africa Adaptation Acceleration Summit, held as part of the COP26 World Leaders Summit, saw several global leaders make commitments to support adaptation in Africa, including through the AAA-P.

The UK Government announced an important commitment of 20 million pounds to support the upstream work of the AAA-P.

Also, the AAA-P would be implemented through two mechanisms: First, an AAA-P Upstream Financing Facility, housed at the GCA, to support the evidence-based knowledge, project design and preparation, and policy work needed for the success of AAA-P operations.

The upstream facility provided resources to strengthen adaptation and resilience components into multilateral development bank projects in the pipeline.

The facility, which also needed capitalisation of 250 million dollars,  would help to mainstream solutions on climate adaptation.

Second, an AAA-P Downstream Investment Facility, to be housed at the AfDB, would be developed under the direct leadership of the president of the bank.

The facility was expected to use the resources to unlock financing from African national governments, impact investors, foundations, and other innovative sources, such as resilience bonds and debt for climate adaptation swaps, in a coordinated programme.

The downstream facility, to be capitalised at 1.75 billion dollars, would help leverage additional adaptation finance by a factor of four times, to deliver seven billion dollars of additional adaptation finance.

The AAA-P upstream facility at the GCA has helped to generate three billion dollars of mainstream climate adaptation investments by AfDB, from agriculture, to energy, transport, water, and sanitation.

Got News Tip? Send Us Story !
Follow Us on Google News

MOST READ TODAY

No Content Available

Faster Updates

Get News Via Whatsapp
Get News Via Telegram
Follow Us on Google News
Got News Tip? Send Us Story !

LATEST UPDATES

Japan’s justice minister resigns after death penalty quip

November 11, 2022

Quinquagenarian docked for alleged wilful damage, land grabbing

November 11, 2022

Mitigating impact of emerging biosecurity threats

November 11, 2022

2 public servants docked over alleged failure to produce suspect

November 11, 2022

Company donates 40 WPS licenses for ABU’s smart classrooms

November 11, 2022

Security men docked for alleged theft of generator in Lagos

November 11, 2022

Ebonyi’s Gov. Umahi plans to produce 10,000 young multimillionaires using agriculture

November 11, 2022

Blatter says Iran should be barred from Qatar World Cup

November 11, 2022

FG, LASG promise joint action on Eko Bridge, others

November 11, 2022

Quacks are taking over our profession in Ogun, Medical Doctors seek intervention

November 11, 2022
Load More

Discussion about this post

ADVERTISEMENT

LATEST NEWS

Japan’s justice minister resigns after death penalty quip

3 years ago

Quinquagenarian docked for alleged wilful damage, land grabbing

3 years ago

Mitigating impact of emerging biosecurity threats

3 years ago

2 public servants docked over alleged failure to produce suspect

3 years ago

Company donates 40 WPS licenses for ABU’s smart classrooms

3 years ago

Security men docked for alleged theft of generator in Lagos

3 years ago

Ebonyi’s Gov. Umahi plans to produce 10,000 young multimillionaires using agriculture

3 years ago

Blatter says Iran should be barred from Qatar World Cup

3 years ago

FG, LASG promise joint action on Eko Bridge, others

3 years ago

Quacks are taking over our profession in Ogun, Medical Doctors seek intervention

3 years ago
PDP logo

PDP to lodge formal complaint to police over attacks on its campaign trails

3 years ago

2023: South-South Committee promises massive votes for Tinubu

3 years ago

Presidency commends Saudi Humanitarian support to Nigerian conjoined twins

3 years ago

APC chairman optimistic of Tinubu’s victory in 2023 Elections

3 years ago

2023 Elections: Former Information Minister tasks editors on agenda setting

3 years ago

North-West is indebted to Tinubu, says APC contact committee

3 years ago
Load More
BROAD NEWS — WITHIN NIGERIA

WITHIN NIGERIA MEDIA LTD.

NEWS, MULTI MEDIA

WITHIN NIGERIA is an online news media that focuses on authoritative reports, investigations and major headlines that springs from National issues, Politics, Metro, Entertainment; and Articles.

Follow us on social media:

CORPORATE LINKS

  • About
  • Contacts
  • Report a story
  • Advertisement
  • Content Policy
  • Private Policy
  • Terms
 
  • Fact-Checking Policy
  • Ethics Policy
  • Corrections Policy
  • REPORT A STORY
  • PRIVACY
  • CONTACT US

© 2022 WITHIN NIGERIA MEDIA LTD. designed by WebAndName

No Result
View All Result
  • HOME
  • FEATURES
  • BROAD NEWS
    • National
    • Metro
    • Politics
    • Entertainment
    • Sports
    • Economy
    • Education
    • Business
    • Agriculture
    • Environment
    • Foreign
    • Health
    • Law
    • Lifestyle
    • Opinions
    • Religion
    • Security
    • Technology
    • World
  • NEWS PICKS
  • ENTERTAINMENT
  • GIST
  • MORE
    • VIDEOS
    • ARTICLES

© 2022 WITHIN NIGERIA MEDIA LTD. designed by WebAndName