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Africa’s Access to Convention Funds

Africa’s Access to Convention Funds. High Level Side Event COP18, Doha, Qatar 03 December, 2012. African Development Bank. Key Messages. Financial resources required to combat climate change and grow greener economies in Africa are considerable.

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Africa’s Access to Convention Funds

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  1. Africa’s Access to Convention Funds High Level Side Event COP18, Doha, Qatar 03 December, 2012 African Development Bank

  2. Key Messages • Financial resources required to combat climate change and grow greener economies in Africa are considerable. • Despite recent improvements, Africa’s climate finance disbursement is not commensurate to its needs. • Dedicated climate funds remain relatively small in global terms, particularly Funds under the Convention, but place more emphasis on Africa. • The current paradigm of climate finance may sometimes fail to match Africa’s needs and has implications for the design of the GCF. • The African Development Bank is committed to increasing Africa’s access to climate finance.

  3. Climate Damages as % of GDP

  4. Africa’s Exposure to “Runaway” Climate Change

  5. The Global Finance Landscape Source: Climate Policy Initiative, 2011

  6. Mitigation Finance

  7. Adaptation Finance

  8. Africa’s Climate Finance Flows Source: CPI (2011), UNEP RISOE database and Vivid Economics/AfDB (2011) and (forthcoming) Africa currently receives far less climate finance than it requires

  9. Financial Commitments 12% of Disbursements for Africa in 4 years (Till 2010)

  10. Africa & GEF Adaptation Funds Source: Climate Funds Update

  11. Africa and the Adaptation Fund Source: Adaptation Fund

  12. Africa’s Absorptive Capacity

  13. Africa’s Adaptive Capacity

  14. The Green Climate Fund • The Green Climate Fund could represent a watershed in the flow of climate finance to Africa, if it address the following concerns: • Scaled-up to meet Africa’s needs; • Respects country-ownership; • Supports Direct Access by African countries; • Recognizes the ‘urgent need’ in African states for adaptation, and builds adaptive capacities; • Encourages direct access in what may become ‘the main global fund for climate change finance

  15. For information on how the African Development Bank is providing solutions for Changing Climate in Africa, please visitwww.afdb.orgThank you.

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