20 May 2013
Content from our Premium Partner

African Development Bank (Abidjan)

Daunting but Promising - AfDB Report Highlights Economic and Social Benefits of Green Growth for Africa

press release

A new report released by the African Development Bank (AfDB) shows that investments in green growth are not only good for the environment but are also advantageous to economic growth.

In a special article of the 11th edition of the Gender, Poverty and Environmental Indicators on African Countries, the AfDB argues that for Africa in particular, favoring environmentally sustainable policies provides a high return of investment.

Green growth, the report argues, helps Africa overcome its particular challenges. It results in better management of natural resources, less dependence on imports, more food security, better resilience to natural disasters and cut energy and infrastructure costs, according to the report. Higher upfront costs and an undervaluation of their benefit to human welfare, the paper argues, has dissuaded policy makers from choosing environmentally sound options.

Africa's transition to green growth is a key pillar of the AfDB's strategy for 2013 - 2022. It envisages strong, sustainable and green growth by protecting livelihoods, improving food security, while promoting better long term use of natural resources and enhancing innovation and job creation.

At its upcoming Annual meeting, stakeholders will discuss Africa's transition to green economies, opportunities and challenges, under the conference theme of structural transformation.

African economies are experiencing remarkable economic growth in recent years but it has not benefitted the people in terms of employment opportunities or lifting them out of poverty. The AfDB is helping to make African economies more inclusive by investing in human capital and infrastructure and helping countries add value to manufacturing, build agri-business and fostering knowledge based economies.

Copyright © 2013 African Development Bank. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.