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€20m grant to kick-off projects under the ClimDev-Africa Fund

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Tuesday, 26 February 2013

€20m grant to kick-off projects under the ClimDev-Africa Fund

A €20 million grant will be deployed in order to start financing projects under the special ClimDev-Africa Fund, on climate change and the prevention of risks linked to natural disasters in Africa.
The ClimDev-Africa Program was designed to collate, analyze and publish high-quality climate data. The data collected on climate change issues is made available to decision-makers and should serve as forecast instruments for natural disasters as well as for sustainable development policy-planning.
The fund is administered by the African Development Bank, and was designed as a joint initiative of the African Development Bank (AfDB), the Commission of the African Union (AUC) and the United Nations Economic Commission for Africa (UNECA). The fund was established by the African Development Bank’s Board of Governors on 27th May 2010.
This grant was made following several months of discussions between the three institutions, the General Secretariat of the ACP and the European Union. Ibrahima Dia, Chief of the Joint AU-AfDB-ECA Secretariat, received on Monday, February 11, in Brussels, the letter of confirmation on the €20 million grant for the Fund from the Secretary General of the Africa, Caribbean and Pacific Group of States (ACP), Mohamed Ibn Chambas.

Source: African Development Bank Group