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Financial News

Breakdown of the climate finance deals at the inaugural Africa Climate Summit

World leaders at the event pledged their support to position the continent at the centre of the fight against climate change, urging greater consideration for Africa’s priorities and endowments.

Over the course of these three days, several noteworthy developments unfolded.

Also of particular importance are the several deals accrued to strengthen Africa’s capabilities in coping with the growing challenges posed by extreme weather conditions, safeguarding its precious natural resources, and advancing the adoption of renewable energy solutions.

African countries struck climate financing deals worth $23 billion during the summit. These deals undoubtedly represent a vital step in addressing the pressing environmental and sustainability concerns facing the continent.

Here is a breakdown of the climate finance deals, including the institutions, and countries that made pledges.

Countries/Institutions Climate finance pledge

The United Arab Emirates (UAE)

$450 million

Uk projects

£49 million

Germany

£60 million

United States

$30 million

Climate Asset Management

$200 million

AfDB Group and Global Center on Adaptation

$1 billion

African Development Bank

$25 million

US Agency for International Development (USAID)

$35 million

Rural Investment in Burundi

$60 million

UAE commitment to fund renewable energy

$4.5 billion

EU green hydrogen deal

£12 million

Bezos Earth Fund

$22.8 million

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