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Nigeria to benefit from UK’s new funding for Africa-led climate resilient projects

Nigeria to benefit from UK’s new funding for Africa-led climate resilient projects
November 04
12:54 2021

Alok Sharma, COP26 president, says the UK will launch new funding to support African governments to roll out critical adaptation projects to help at-risk communities adapt to the impacts of climate change.

In a press statement on Wednesday, Ndidiamaka Eze, press and public affairs officer foreign commonwealth and development office, said Sharma noted that the fund will support African-led plans to accelerate resilience-building across Africa.

“COP26 President Alok Sharma announced the new UK support for the Africa Adaptation Acceleration Program (AAAP) – an initiative endorsed by African Union leaders and led by the African Development Bank, Global Centre on Adaptation and the Africa Adaptation Initiative, to back African-led plans to accelerate resilience-building across Africa,” she said

Eze also said Boris Johnson, UK prime minister, announced a new guarantee mechanism that is supposed to finance projects across the continent.

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“UK Prime Minister Boris Johnson also announced the UK is offering an ambitious new guarantee mechanism – the ‘Room to Run’ guarantee – to the African Development Bank (AfDB). This is expected to unlock up to £1.45 billion ($2 billion) worth of new financing for projects across the continent, half of which will help countries adapt to the impacts of climate change,” she said. 

Liz Truss, UK foreign secretary, was quoted to have said: “More finance for African nations to develop and adapt to climate change is important as these countries find themselves on the frontline of impacts. It is a huge investment opportunity.

“By combining our cash with other donors and businesses, and working with partners such as the African Development Bank to direct funding into green projects, today we are delivering on our commitment to African-led climate adaptation.”

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Ben Llewellyn-Jones, UK deputy high commissioner in Lagos, said there is a need to scale up adaptation finance to protect the people and economies from the impact of climate change. 

“Climate action, building resilience and sustainable development are inextricably linked.  Working with key partners such as the African Development Bank and others, this new suite of programmes will support African countries, including Nigeria, to adapt to the effects of climate change,” he said.

 

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This story is published in partnership with Report for the World, a global service program that supports local public interest journalism.

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